Analysts Set BlackBerry Limited (NYSE:BB) Price Target at $3.23

Shares of BlackBerry Limited (NYSE:BB) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $3.23.

BB has been the topic of a number of recent research reports. CIBC boosted their price objective on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com cut BlackBerry from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Canaccord Genuity Group boosted their price objective on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research note on Friday, September 27th.

BlackBerry Trading Up 1.3 %

Shares of NYSE:BB opened at $2.35 on Monday. The business has a fifty day simple moving average of $2.41 and a 200-day simple moving average of $2.48. BlackBerry has a 52 week low of $2.01 and a 52 week high of $4.44. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27.

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

Insider Buying and Selling

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the company’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 sale, the insider now owns 30,129 shares in the company, valued at $76,226.37. This represents a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Institutional Trading of BlackBerry

Institutional investors and hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in BlackBerry during the second quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of BlackBerry during the third quarter valued at approximately $38,000. Werba Rubin Papier Wealth Management bought a new position in shares of BlackBerry during the second quarter valued at approximately $43,000. Finally, Viewpoint Capital Management LLC bought a new position in shares of BlackBerry during the second quarter valued at approximately $50,000. Institutional investors and hedge funds 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.