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

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

Other research analysts have also issued reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research note on Friday, September 27th. Canaccord Genuity Group raised their target price on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, CIBC raised their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.23.

BlackBerry Stock Down 0.6 %

Shares of BB opened at $2.55 on Tuesday. The stock has a 50 day moving average price of $2.44 and a 200 day moving average price of $2.45. BlackBerry has a one year low of $2.01 and a one year high of $4.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -10.18 and a beta of 1.43.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, September 26th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. Equities research analysts forecast that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now owns 30,129 shares of the company’s stock, valued at $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The sale 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BB. Northwestern Mutual Wealth Management Co. grew its stake in shares of BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of BlackBerry by 2.9% in the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after acquiring an additional 7,652 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of BlackBerry by 60.7% in the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after acquiring an additional 7,842 shares in the last quarter. Signaturefd LLC grew its stake in shares of BlackBerry by 65.5% in the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after acquiring an additional 9,063 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of BlackBerry by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock worth $327,000 after acquiring an additional 9,156 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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.