BlackBerry (NYSE:BB) Raised to Buy at Wall Street Zen

BlackBerry (NYSE:BB) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research analysts also recently weighed in on the company. Robert W. Baird increased their price target on BlackBerry from $5.00 to $5.50 and gave the company a “neutral” rating in a research note on Friday. Royal Bank Of Canada set a $4.50 price target on BlackBerry in a research note on Friday. Canaccord Genuity Group reissued a “hold” rating and issued a $4.60 price target on shares of BlackBerry in a research note on Friday. Finally, CIBC reissued an “outperform” rating on shares of BlackBerry in a research note on Tuesday, June 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, BlackBerry currently has a consensus rating of “Moderate Buy” and an average target price of $4.77.

BlackBerry Stock Up 6.6%

NYSE BB opened at $4.96 on Friday. The firm has a market cap of $2.93 billion, a PE ratio of -495.50 and a beta of 1.49. BlackBerry has a one year low of $2.24 and a one year high of $6.24. The stock’s 50 day simple moving average is $3.88 and its 200 day simple moving average is $3.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.10 and a quick ratio of 2.10.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 25th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $130.96 million for the quarter, compared to analyst estimates of $122.03 million. BlackBerry had a positive return on equity of 6.07% and a negative net margin of 0.60%.The firm’s revenue was down 10.6% compared to the same quarter last year. BlackBerry has set its Q3 2026 guidance at 0.020-0.040 EPS. FY 2026 guidance at 0.110-0.15 EPS. As a group, sell-side analysts forecast that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In other BlackBerry news, CEO John Joseph Giamatteo sold 26,998 shares of BlackBerry stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total value of $116,631.36. Following the sale, the chief executive officer owned 530,135 shares of the company’s stock, valued at $2,290,183.20. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 42,200 shares of company stock valued at $182,385. Company insiders own 0.37% of the company’s stock.

Institutional Trading of BlackBerry

Several hedge funds and other institutional investors have recently modified their holdings of the company. Voya Investment Management LLC bought a new position in shares of BlackBerry in the 1st quarter valued at about $95,166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of BlackBerry by 1,390.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,589,886 shares of the company’s stock valued at $71,397,000 after acquiring an additional 14,544,005 shares in the last quarter. Hood River Capital Management LLC bought a new position in shares of BlackBerry in the 2nd quarter valued at about $52,441,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of BlackBerry by 69.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company’s stock valued at $87,064,000 after acquiring an additional 9,442,676 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of BlackBerry by 21,832.6% in the 2nd quarter. Marshall Wace LLP now owns 8,860,764 shares of the company’s stock valued at $40,582,000 after acquiring an additional 8,820,364 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

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.