BlackBerry Limited (NYSE:BB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of BlackBerry Limited (NYSE:BB) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $3.69.

BB has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada raised their price target on shares of BlackBerry from $3.25 to $4.00 and gave the company a “sector perform” rating in a report on Friday. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. TD Cowen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating and raised their target price for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, CIBC upped their price target on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th.

Insiders Place Their Bets

In related news, insider Mattias Eriksson sold 12,680 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.00, for a total transaction of $50,720.00. Following the completion of the transaction, the insider now owns 278,306 shares of the company’s stock, valued at $1,113,224. This trade represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Joseph Giamatteo sold 155,815 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the completion of the sale, the chief executive officer now directly owns 385,552 shares in the company, valued at approximately $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,796 shares of company stock valued at $823,314. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackBerry

Several institutional investors and hedge funds have recently modified their holdings of BB. EP Wealth Advisors LLC acquired a new position in shares of BlackBerry in the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares during the period. Quantinno Capital Management LP purchased a new position in BlackBerry during the third quarter worth approximately $38,000. Werba Rubin Papier Wealth Management purchased a new stake in shares of BlackBerry in the second quarter valued at approximately $43,000. Finally, Signaturefd LLC raised its stake in shares of BlackBerry by 65.5% during the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares during the period. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Stock Performance

NYSE:BB opened at $4.05 on Tuesday. The firm has a 50-day simple moving average of $3.00 and a 200-day simple moving average of $2.60. BlackBerry has a one year low of $2.01 and a one year high of $4.35. The firm has a market cap of $2.40 billion, a P/E ratio of -16.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44.

BlackBerry (NYSE:BB) last issued 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. The company had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. BlackBerry’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Equities analysts anticipate that BlackBerry will post -0.06 EPS for the current fiscal year.

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.