BlackBerry (NYSE:BB) Price Target Raised to $3.25

BlackBerry (NYSE:BB) had its target price boosted by equities researchers at TD Securities from $2.75 to $3.25 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price target suggests a potential upside of 2.52% from the company’s current price.

Several other brokerages also recently commented on BB. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Canaccord Genuity Group boosted their price objective on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. CIBC upped their price target on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada increased their target price on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.34.

BlackBerry Trading Down 0.9 %

Shares of BB traded down $0.03 on Wednesday, hitting $3.17. 5,458,125 shares of the stock traded hands, compared to its average volume of 9,469,532. BlackBerry has a 1 year low of $2.01 and a 1 year high of $4.31. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $2.51 and its two-hundred day moving average is $2.44. The firm has a market capitalization of $1.88 billion, a P/E ratio of -12.68 and a beta of 1.43.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. BlackBerry’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) EPS. As a group, sell-side analysts predict that BlackBerry will post -0.06 earnings per share for the current year.

Insider Transactions at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now owns 30,129 shares of the company’s stock, valued at $76,226.37. This trade represents a 33.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Large investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of BlackBerry by 60.2% during the 3rd quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after purchasing an additional 93,651 shares during the last quarter. Toronto Dominion Bank grew its holdings in BlackBerry by 5.3% during the third quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock worth $1,882,000 after acquiring an additional 36,372 shares during the period. Geode Capital Management LLC grew its holdings in BlackBerry by 2.9% in the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after purchasing an additional 7,652 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in BlackBerry in the third quarter valued at approximately $410,000. Finally, Orion Portfolio Solutions LLC boosted its stake in shares of BlackBerry by 121.1% in the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock worth $99,000 after acquiring an additional 20,771 shares during the last quarter. 54.48% of the stock is 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.