BlackBerry (NYSE:BB) Price Target Raised to $4.75

BlackBerry (NYSE:BB) had its price objective lifted by Canaccord Genuity Group from $3.00 to $4.75 in a research report released on Tuesday morning, Marketbeat reports. They currently have a hold rating on the stock.

BB has been the subject of a number of other reports. TD Cowen raised 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. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. Robert W. Baird boosted their target price on BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada boosted their target price on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a research note on Friday, January 10th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BlackBerry presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.91.

BlackBerry Stock Performance

Shares of BlackBerry stock opened at $4.27 on Tuesday. BlackBerry has a one year low of $2.01 and a one year high of $6.24. The company has a market cap of $2.54 billion, a PE ratio of -19.39 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The business has a 50-day simple moving average of $4.63 and a 200-day simple moving average of $3.31.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. 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 previous year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts forecast that BlackBerry will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Mattias Eriksson sold 12,680 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.00, for a total value of $50,720.00. Following the completion of the sale, the insider now owns 278,306 shares in the company, valued at approximately $1,113,224. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Joseph Giamatteo sold 29,402 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.00, for a total value of $117,608.00. Following the completion of the sale, the chief executive officer now owns 490,761 shares of the company’s stock, valued at approximately $1,963,044. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 244,221 shares of company stock worth $925,655. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BB. Creative Planning increased its holdings in shares of BlackBerry by 40.8% in the third quarter. Creative Planning now owns 36,551 shares of the company’s stock valued at $96,000 after purchasing an additional 10,585 shares during the period. GSA Capital Partners LLP grew its holdings in BlackBerry by 189.5% during the third quarter. GSA Capital Partners LLP now owns 165,394 shares of the company’s stock worth $433,000 after acquiring an additional 108,268 shares during the period. CIBC Asset Management Inc grew its holdings in BlackBerry by 8.9% during the third quarter. CIBC Asset Management Inc now owns 700,933 shares of the company’s stock worth $1,846,000 after acquiring an additional 57,123 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in BlackBerry by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company’s stock worth $3,194,000 after acquiring an additional 11,899 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in BlackBerry by 10.4% during the third quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company’s stock worth $1,284,000 after acquiring an additional 46,101 shares during the period. Institutional investors and hedge funds own 54.48% of the company’s stock.

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.