BlackBerry Limited (NYSE:BB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of BlackBerry Limited (NYSE:BB) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $4.12.

A number of analysts have recently commented on BB shares. Royal Bank of Canada set a $3.75 target price on BlackBerry in a research note on Thursday, April 3rd. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. CIBC decreased their target price on shares of BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a research note on Thursday, April 3rd. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and increased their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Finally, 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 report on Friday, December 20th.

Insider Activity at BlackBerry

In other BlackBerry news, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction on Friday, January 24th. The shares were sold at an average price of $4.19, for a total transaction of $102,340.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jennifer Armstrong-Owen sold 29,940 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the sale, the senior vice president now owns 42,398 shares of the company’s stock, valued at $126,770.02. This trade represents a 41.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,641 shares of company stock valued at $214,365. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BlackBerry

A number of institutional investors have recently added to or reduced their stakes in BB. Legal & General Group Plc boosted its position in shares of BlackBerry by 19.9% during the 4th quarter. Legal & General Group Plc now owns 33,185,748 shares of the company’s stock valued at $125,987,000 after acquiring an additional 5,518,216 shares during the last quarter. Vanguard Group Inc. raised its stake in BlackBerry by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 22,865,831 shares of the company’s stock worth $86,844,000 after purchasing an additional 364,569 shares during the period. Hood River Capital Management LLC acquired a new position in BlackBerry in the 4th quarter valued at about $53,267,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BlackBerry by 41.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company’s stock worth $51,856,000 after buying an additional 4,039,483 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of BlackBerry by 13.9% during the 4th quarter. First Trust Advisors LP now owns 12,755,972 shares of the company’s stock valued at $48,218,000 after buying an additional 1,558,904 shares during the period. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Down 0.9 %

Shares of NYSE:BB opened at $3.20 on Thursday. The company has a quick ratio of 1.37, a current 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. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -14.55 and a beta of 1.30. The business has a 50-day moving average price of $4.37 and a 200-day moving average price of $3.55.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. Equities analysts predict that BlackBerry will post -0.03 EPS 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.