BlackBerry (NYSE:BB) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of BlackBerry (NYSE:BB) from a sell rating to a hold rating in a research report report published on Friday morning.

BB has been the subject of several other research reports. Royal Bank of Canada set a $3.75 price target on shares of BlackBerry in a research note on Thursday, April 3rd. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $3.25 to $4.00 in a research report on Friday, December 20th. CIBC reduced their price objective on BlackBerry from $7.00 to $6.00 and set an “outperformer” rating for the company in a research note on Thursday, April 3rd. Canaccord Genuity Group decreased their target price on shares of BlackBerry from $4.75 to $4.25 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Finally, Robert W. Baird boosted their price objective 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. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $4.12.

BlackBerry Stock Up 0.8 %

BB stock opened at $3.17 on Friday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -14.39 and a beta of 1.30. The firm has a 50-day moving average of $4.45 and a two-hundred day moving average of $3.55. BlackBerry has a 12 month low of $2.01 and a 12 month high of $6.24. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $141.70 million during the quarter, compared to the consensus estimate of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The business’s revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. As a group, analysts forecast that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BlackBerry news, CAO Jay P. Chai sold 24,425 shares of BlackBerry stock in a transaction on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the sale, the senior vice president now owns 42,398 shares in the company, valued at $126,770.02. This trade represents a 41.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,641 shares of company stock worth $214,365 in the last three months. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackBerry

Institutional investors and hedge funds have recently bought and sold shares of the business. Milestone Asset Management LLC raised its holdings in shares of BlackBerry by 55.1% during the first quarter. Milestone Asset Management LLC now owns 228,658 shares of the company’s stock valued at $862,000 after acquiring an additional 81,210 shares during the period. Parallel Advisors LLC grew its position in BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company’s stock worth $27,000 after purchasing an additional 4,893 shares in the last quarter. Mackenzie Financial Corp raised its stake in BlackBerry by 3.8% during the 4th quarter. Mackenzie Financial Corp now owns 353,306 shares of the company’s stock valued at $1,341,000 after purchasing an additional 13,089 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of BlackBerry by 3.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,155 shares of the company’s stock valued at $3,074,000 after purchasing an additional 26,129 shares in the last quarter. Finally, Vident Advisory LLC acquired a new stake in shares of BlackBerry in the fourth quarter worth $2,938,000. 54.48% of the stock is owned by institutional investors and hedge funds.

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.