BlackBerry (NYSE:BB) Given a $4.00 Price Target by Royal Bank Of Canada Analysts

Royal Bank Of Canada set a $4.00 price objective on BlackBerry (NYSE:BB) in a research report report published on Monday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

BB has been the topic of a number of other reports. CIBC reaffirmed an “outperform” rating on shares of BlackBerry in a report on Tuesday, June 24th. Robert W. Baird upped their price target on BlackBerry from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, June 25th. Wall Street Zen downgraded BlackBerry from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Canaccord Genuity Group upped their price objective on BlackBerry from $4.25 to $4.60 and gave the company a “hold” rating in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, BlackBerry presently has an average rating of “Moderate Buy” and a consensus target price of $4.60.

BlackBerry Trading Up 4.6%

BlackBerry stock opened at $4.41 on Monday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $3.84 and its two-hundred day simple moving average is $3.87. BlackBerry has a 12 month low of $2.24 and a 12 month high of $6.24. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -73.42 and a beta of 1.49.

BlackBerry (NYSE:BB) last released its earnings results on Tuesday, June 24th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $121.26 million for the quarter, compared to the consensus estimate of $112.18 million. BlackBerry had a positive return on equity of 2.29% and a negative net margin of 6.44%.The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, equities analysts predict that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John Joseph Giamatteo sold 26,998 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total transaction of $116,631.36. Following the completion of the sale, the chief executive officer owned 530,135 shares in the company, valued at approximately $2,290,183.20. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 42,200 shares of company stock worth $182,385 in the last three months. Company insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company’s stock valued at $27,000 after buying an additional 4,893 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of BlackBerry in the 1st quarter valued at approximately $37,000. OneDigital Investment Advisors LLC bought a new stake in shares of BlackBerry in the 1st quarter valued at approximately $40,000. LeConte Wealth Management LLC bought a new stake in shares of BlackBerry in the 2nd quarter valued at approximately $61,000. Finally, Benjamin Edwards Inc. lifted its stake in shares of BlackBerry by 31.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 14,600 shares of the company’s stock valued at $67,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

About BlackBerry

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.