BlackBerry (NYSE:BB) Price Target Cut to $3.00

BlackBerry (NYSE:BB) had its price objective decreased by Robert W. Baird from $3.50 to $3.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 20.24% from the company’s previous close.

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BlackBerry has a consensus rating of “Hold” and an average target price of $3.20.

BlackBerry Stock Up 1.8 %

Shares of NYSE BB opened at $2.50 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. BlackBerry has a 52 week low of $2.20 and a 52 week high of $5.75. The firm has a 50-day moving average price of $2.76 and a 200 day moving average price of $2.96. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -8.60 and a beta of 1.37.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.30%. The firm had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $132.05 million. During the same quarter last year, the business earned $0.04 earnings per share. The business’s revenue for the quarter was down 61.4% compared to the same quarter last year. Equities research analysts anticipate that BlackBerry will post -0.09 EPS for the current fiscal year.

Institutional Trading of BlackBerry

Several large investors have recently modified their holdings of BB. Highlander Capital Management LLC lifted its position in shares of BlackBerry by 77.8% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after purchasing an additional 3,500 shares during the last quarter. Duality Advisers LP lifted its position in shares of BlackBerry by 4.1% during the fourth quarter. Duality Advisers LP now owns 97,086 shares of the company’s stock worth $344,000 after purchasing an additional 3,837 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of BlackBerry by 6.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 65,535 shares of the company’s stock worth $232,000 after purchasing an additional 3,958 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of BlackBerry by 28.4% during the fourth quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock worth $90,000 after purchasing an additional 5,645 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in BlackBerry by 1.8% in the first quarter. Maryland State Retirement & Pension System now owns 351,339 shares of the company’s stock worth $989,000 after acquiring an additional 6,196 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.