Brokerages Set BlackBerry Limited (NYSE:BB) PT at $3.60

BlackBerry Limited (NYSE:BB) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Five 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. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $3.69.

BB has been the subject of several analyst reports. Robert W. Baird raised their target price on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday, December 20th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Royal Bank of Canada upped their target price on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, Canaccord Genuity Group boosted their price target on BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a research report on Friday, December 20th.

BlackBerry Trading Down 2.7 %

Shares of NYSE:BB opened at $3.95 on Tuesday. The company’s 50-day moving average price is $3.03 and its two-hundred day moving average price is $2.62. BlackBerry has a one year low of $2.01 and a one year high of $4.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $2.34 billion, a PE ratio of -15.80 and a beta of 1.30.

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

Insiders Place Their Bets

In other news, insider Mattias Eriksson sold 12,680 shares of BlackBerry stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.00, for a total transaction of $50,720.00. Following the completion of the sale, the insider now owns 278,306 shares of the company’s stock, valued at approximately $1,113,224. This trade represents a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the transaction, the chief executive officer now owns 385,552 shares in the company, valued at $1,418,831.36. This trade represents a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,796 shares of company stock worth $823,314 over the last three months. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Intact Investment Management Inc. lifted its position in shares of BlackBerry by 25.7% during the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after acquiring an additional 294,250 shares during the period. Capstone Investment Advisors LLC acquired a new position in BlackBerry in the third quarter valued at about $1,285,000. State Street Corp lifted its position in BlackBerry by 1.9% during the third quarter. State Street Corp now owns 1,309,606 shares of the company’s stock worth $3,431,000 after purchasing an additional 24,309 shares during the period. BNP Paribas Financial Markets grew its stake in BlackBerry by 7.6% during the third quarter. BNP Paribas Financial Markets now owns 163,531 shares of the company’s stock worth $428,000 after buying an additional 11,488 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in BlackBerry by 815.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company’s stock valued at $1,361,000 after buying an additional 488,934 shares during the period. 54.48% of the stock is owned by institutional investors.

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.