BlackBerry Limited (NYSE:BB) Receives Consensus Rating of “Hold” from Analysts

BlackBerry Limited (NYSE:BBGet Free Report) has received a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $5.13.

BB has been the topic of several research analyst reports. TD Securities reduced their price objective on BlackBerry from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday, October 5th. StockNews.com began coverage on shares of BlackBerry in a report on Thursday, October 5th. They issued a “sell” rating for the company. Canaccord Genuity Group dropped their price objective on shares of BlackBerry from $5.37 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, August 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.50 target price on shares of BlackBerry in a research note on Friday, September 29th. Finally, CIBC lowered their target price on BlackBerry from $5.50 to $4.75 and set a “neutral” rating for the company in a report on Wednesday, October 18th.

Read Our Latest Research Report on BB

Insider Activity

In related news, insider Philip S. Kurtz sold 15,798 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $4.57, for a total transaction of $72,196.86. Following the completion of the sale, the insider now directly owns 16,265 shares in the company, valued at $74,331.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Philip S. Kurtz sold 15,798 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $4.57, for a total value of $72,196.86. Following the completion of the transaction, the insider now owns 16,265 shares in the company, valued at approximately $74,331.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John S. Chen sold 554,211 shares of BlackBerry stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $3.65, for a total value of $2,022,870.15. Following the completion of the transaction, the chief executive officer now directly owns 6,893,527 shares in the company, valued at approximately $25,161,373.55. The disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BB. Sequoia Financial Advisors LLC purchased a new stake in BlackBerry in the 3rd quarter worth approximately $48,000. Barclays PLC raised its holdings in shares of BlackBerry by 3.1% during the third quarter. Barclays PLC now owns 256,199 shares of the company’s stock worth $1,207,000 after acquiring an additional 7,785 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of BlackBerry during the third quarter worth $195,000. CIBC Asset Management Inc boosted its position in BlackBerry by 3.3% during the third quarter. CIBC Asset Management Inc now owns 503,926 shares of the company’s stock valued at $2,393,000 after purchasing an additional 16,280 shares during the last quarter. Finally, PBMares Wealth Management LLC purchased a new position in BlackBerry in the third quarter valued at about $57,000. Hedge funds and other institutional investors own 42.66% of the company’s stock.

BlackBerry Price Performance

Shares of BlackBerry stock opened at $3.74 on Thursday. BlackBerry has a 1-year low of $3.17 and a 1-year high of $5.75. The company has a market capitalization of $2.18 billion, a PE ratio of -3.63 and a beta of 1.54. The business has a 50-day moving average of $4.33 and a 200-day moving average of $4.78.

BlackBerry (NYSE:BBGet Free Report) last released its quarterly earnings results on Thursday, September 28th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $132.00 million during the quarter, compared to the consensus estimate of $134.25 million. BlackBerry had a negative net margin of 66.91% and a negative return on equity of 7.11%. The business’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. On average, equities analysts expect that BlackBerry will post -0.03 earnings per share for the current fiscal year.

BlackBerry Company Profile

(Get Free Report

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.

Further Reading

Analyst Recommendations for BlackBerry (NYSE:BB)

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