BlackBerry (NYSE:BB) Upgraded by TD Securities to “Buy” Rating

TD Securities upgraded shares of BlackBerry (NYSE:BB) from a hold rating to a buy rating in a research note published on Friday, MarketBeat reports. TD Securities currently has $4.00 price objective on the stock, up from their prior price objective of $3.25.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a report on Friday, October 18th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. CIBC increased 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 boosted their price objective on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.60.

BlackBerry Stock Up 23.8 %

NYSE BB opened at $3.69 on Friday. The business has a fifty day moving average price of $2.56 and a two-hundred day moving average price of $2.46. The stock has a market capitalization of $2.18 billion, a PE ratio of -14.76 and a beta of 1.43. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $3.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. During the same period in the prior year, the company earned $0.01 EPS. BlackBerry’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts expect that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at BlackBerry

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

Hedge Funds Weigh In On BlackBerry

Several institutional investors and hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC purchased a new position in shares of BlackBerry during the 2nd quarter valued at $28,000. Northwestern Mutual Wealth Management Co. raised its stake in BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares during the period. Quantinno Capital Management LP purchased a new stake in BlackBerry during the third quarter valued at about $38,000. Werba Rubin Papier Wealth Management bought a new position in BlackBerry during the second quarter worth about $43,000. Finally, Viewpoint Capital Management LLC purchased a new position in shares of BlackBerry in the second quarter worth about $50,000. 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.