BlackBerry Limited (NYSE:BB) Receives Average Recommendation of “Hold” from Brokerages

BlackBerry Limited (NYSE:BB) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.08.

BB has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 price target on shares of BlackBerry in a research note on Thursday, April 4th. StockNews.com downgraded shares of BlackBerry from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. Robert W. Baird decreased their price objective on shares of BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, CIBC dropped their target price on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, February 14th.

Insider Activity at BlackBerry

In other news, Director Philip G. Brace bought 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average cost of $2.79 per share, for a total transaction of $97,650.00. Following the acquisition, the director now directly owns 35,000 shares in the company, valued at $97,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.94% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BlackBerry

Hedge funds have recently added to or reduced their stakes in the stock. Optiver Holding B.V. bought a new position in shares of BlackBerry in the third quarter valued at approximately $25,000. Highlander Capital Management LLC grew its stake in shares of BlackBerry by 77.8% in the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after acquiring an additional 3,500 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of BlackBerry in the third quarter valued at about $48,000. Clear Street Markets LLC purchased a new stake in shares of BlackBerry in the third quarter valued at about $48,000. Finally, PBMares Wealth Management LLC purchased a new position in BlackBerry during the third quarter worth about $57,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Stock Down 0.9 %

Shares of NYSE BB opened at $2.87 on Thursday. The company has a 50 day simple moving average of $2.83 and a 200 day simple moving average of $3.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43. BlackBerry has a 1 year low of $2.46 and a 1 year high of $5.75. The firm has a market cap of $1.69 billion, a PE ratio of -11.94 and a beta of 1.40.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. The firm had revenue of $173.00 million during the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. On average, research analysts forecast that BlackBerry will post -0.09 EPS for the current year.

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.