Canaccord Genuity Group Reiterates Hold Rating for BlackBerry (NYSE:BB)

BlackBerry (NYSE:BB)‘s stock had its “hold” rating restated by analysts at Canaccord Genuity Group in a research note issued on Friday,Benzinga reports. They currently have a $4.60 target price on the stock. Canaccord Genuity Group’s price objective indicates a potential downside of 7.16% from the stock’s current price.

Several other brokerages also recently weighed in on BB. CIBC reissued an “outperform” rating on shares of BlackBerry in a research note on Tuesday, June 24th. Robert W. Baird increased their target price on shares of BlackBerry from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, June 25th. Royal Bank Of Canada raised their price target on shares of BlackBerry to $4.00 and gave the stock a “sector perform” rating in a research note on Monday, September 22nd. Finally, Wall Street Zen downgraded shares of BlackBerry from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.77.

BlackBerry Trading Up 6.6%

Shares of BB opened at $4.96 on Friday. BlackBerry has a twelve month low of $2.24 and a twelve month high of $6.24. The company has a market cap of $2.93 billion, a P/E ratio of -495.50 and a beta of 1.49. 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 company’s fifty day simple moving average is $3.88 and its 200-day simple moving average is $3.88.

BlackBerry (NYSE:BB) last announced its earnings results on Thursday, September 25th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. BlackBerry had a negative net margin of 0.60% and a positive return on equity of 6.07%. The business had revenue of $130.96 million for the quarter, compared to the consensus estimate of $122.03 million. The company’s quarterly revenue was down 10.6% on a year-over-year basis. 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, analysts expect that BlackBerry will post -0.03 EPS for the current year.

Insider Transactions at BlackBerry

In other BlackBerry news, CEO John Joseph Giamatteo sold 26,998 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $4.32, for a total transaction of $116,631.36. Following the transaction, the chief executive officer directly owned 530,135 shares in the company, valued at $2,290,183.20. This represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 42,200 shares of company stock worth $182,385. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in BlackBerry by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 23,084,515 shares of the company’s stock worth $86,936,000 after acquiring an additional 218,684 shares in the last quarter. Voya Investment Management LLC bought a new position in BlackBerry during the 1st quarter worth about $95,166,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in BlackBerry by 7.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,086,634 shares of the company’s stock worth $4,093,000 after acquiring an additional 71,057 shares in the last quarter. Vident Advisory LLC grew its holdings in BlackBerry by 52.1% during the 1st quarter. Vident Advisory LLC now owns 1,182,034 shares of the company’s stock worth $4,456,000 after acquiring an additional 404,823 shares in the last quarter. Finally, Milestone Asset Management LLC grew its holdings in BlackBerry by 55.1% during the 1st quarter. Milestone Asset Management LLC now owns 228,658 shares of the company’s stock worth $862,000 after acquiring an additional 81,210 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors.

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.