Analysts Set BlackBerry Limited (NYSE:BB) Target Price at $3.20

by · The Cerbat Gem

Shares of BlackBerry Limited (NYSE:BB – Get Free Report) have been given an average rating of “Hold” by the eight research firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.20.

Several analysts recently commented on BB shares. TD Securities reduced their target price on shares of BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a report on Thursday, June 27th. Robert W. Baird reduced their price objective on BlackBerry from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Canaccord Genuity Group lowered their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a report on Friday, September 27th. Finally, Canaccord Genuity Group decreased their price objective on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th.

View Our Latest Analysis on BlackBerry

BlackBerry Price Performance

BB opened at $2.36 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry has a 12-month low of $2.01 and a 12-month high of $4.44. The business has a 50 day moving average of $2.35 and a 200-day moving average of $2.58.

BlackBerry (NYSE:BB – Get Free Report) last announced its quarterly earnings results on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $145.00 million during the quarter, compared to the consensus estimate of $138.82 million. During the same quarter last year, the firm posted ($0.06) EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that BlackBerry will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the transaction, the insider now owns 30,129 shares of the company’s stock, valued at $76,226.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of BlackBerry

Several large investors have recently made changes to their positions in BB. BNP Paribas Financial Markets boosted its stake in BlackBerry by 33.1% in the fourth quarter. BNP Paribas Financial Markets now owns 140,079 shares of the company’s stock valued at $496,000 after buying an additional 34,818 shares in the last quarter. TD Asset Management Inc increased its position in BlackBerry by 1.6% during the 4th quarter. TD Asset Management Inc now owns 1,454,153 shares of the company’s stock worth $5,183,000 after purchasing an additional 22,830 shares in the last quarter. Scotia Capital Inc. lifted its stake in BlackBerry by 12.9% in the 4th quarter. Scotia Capital Inc. now owns 73,400 shares of the company’s stock valued at $260,000 after purchasing an additional 8,378 shares during the last quarter. CIBC Asset Management Inc boosted its position in BlackBerry by 3.8% in the fourth quarter. CIBC Asset Management Inc now owns 523,257 shares of the company’s stock valued at $1,862,000 after buying an additional 19,331 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of BlackBerry by 70.1% during the fourth quarter. First Trust Advisors LP now owns 33,801,506 shares of the company’s stock worth $119,657,000 after buying an additional 13,925,510 shares during the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Company Profile

(Get Free Report

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.

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