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

BlackBerry Limited (NYSE:BB) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $3.91.

BB has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, December 20th. Canaccord Genuity Group boosted their price target on shares of BlackBerry from $3.00 to $4.75 and gave the stock a “hold” rating in a research report on Tuesday, March 11th. Royal Bank of Canada increased their price objective on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday, January 10th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and upped their target price for the stock from $3.25 to $4.00 in a research report on Friday, December 20th.

Insider Activity

In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $50,720.00. Following the sale, the insider now owns 278,306 shares in the company, valued at approximately $1,113,224. The trade was a 4.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jay P. Chai sold 24,425 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 244,221 shares of company stock worth $925,655. Insiders own 0.34% of the company’s stock.

Institutional Trading of BlackBerry

Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in BlackBerry by 63.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company’s stock valued at $37,000 after acquiring an additional 3,811 shares in the last quarter. Masso Torrence Wealth Management Inc. acquired a new stake in shares of BlackBerry during the fourth quarter worth approximately $38,000. Mindset Wealth Management LLC acquired a new stake in shares of BlackBerry during the fourth quarter worth approximately $38,000. Quadrant Capital Group LLC grew its position in BlackBerry by 100.3% during the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company’s stock valued at $38,000 after purchasing an additional 5,008 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in BlackBerry in the 4th quarter valued at approximately $40,000. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Price Performance

Shares of NYSE:BB opened at $4.33 on Friday. The firm’s 50 day moving average is $4.69 and its two-hundred day moving average is $3.42. The firm has a market capitalization of $2.58 billion, a P/E ratio of -19.66 and a beta of 1.27. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry has a 52 week low of $2.01 and a 52 week high of $6.24.

BlackBerry (NYSE:BB) last posted its earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The firm had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same period last year, the firm earned $0.01 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. Analysts anticipate that BlackBerry will post -0.03 earnings per share for the current year.

BlackBerry Company Profile

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 CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.