BlackBerry (NYSE:BB) Downgraded to “Hold” Rating by TD Securities

TD Securities downgraded shares of BlackBerry (NYSE:BB) from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat Ratings reports. The firm currently has $5.00 price objective on the stock, up from their previous price objective of $4.00.

A number of other equities research analysts have also recently issued reports on BB. CIBC reaffirmed an “outperform” rating on shares of BlackBerry in a report on Tuesday, June 24th. Robert W. Baird upped their price objective on BlackBerry from $5.00 to $5.50 and gave the company a “neutral” rating in a research note on Friday, September 26th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $4.60 price objective on shares of BlackBerry in a research report on Friday, September 26th. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Finally, Zacks Research raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BlackBerry has an average rating of “Hold” and a consensus price target of $5.10.

BlackBerry Stock Down 5.4%

NYSE:BB opened at $4.50 on Friday. BlackBerry has a twelve month low of $2.24 and a twelve month high of $6.24. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -449.50 and a beta of 1.51. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $3.96 and its two-hundred day moving average price is $3.90.

BlackBerry (NYSE:BB) last released 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 during the quarter, compared to analysts’ expectations of $122.03 million. BlackBerry’s quarterly 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. Equities research analysts expect that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 44,178 shares of the firm’s stock in a transaction on Sunday, September 28th. The stock was sold at an average price of $4.95, for a total transaction of $218,681.10. Following the transaction, the insider owned 95,468 shares in the company, valued at $472,566.60. This trade represents a 31.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its stake in BlackBerry by 7.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 249,486 shares of the company’s stock valued at $1,143,000 after purchasing an additional 16,218 shares in the last quarter. Vident Advisory LLC increased its holdings in BlackBerry by 46.8% in the 2nd quarter. Vident Advisory LLC now owns 1,735,789 shares of the company’s stock valued at $7,950,000 after buying an additional 553,755 shares during the period. Benjamin Edwards Inc. raised its position 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 buying an additional 3,500 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of BlackBerry during the 2nd quarter worth approximately $379,000. Finally, Bank of America Corp DE boosted its position in shares of BlackBerry by 183.6% during the 2nd quarter. Bank of America Corp DE now owns 4,604,205 shares of the company’s stock worth $21,087,000 after acquiring an additional 2,980,732 shares in the last quarter. 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.