BlackBerry (NYSE:BB) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded BlackBerry to “buy” from “hold,” though the broader analyst consensus remains “hold,” with nine hold ratings and two buy ratings and an average price target of $8.92.
• BlackBerry’s latest quarterly results exceeded expectations, with adjusted EPS of $0.04 versus $0.03 expected and revenue of $152.9 million, up 25.6% year over year.
• The stock opened at $8.17 after declining 5.5%, while insiders sold 355,858 shares worth approximately $4.0 million over the past quarter.

BlackBerry (NYSE:BB - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

BB has been the subject of a number of other reports. Stifel Nicolaus began coverage on BlackBerry in a research report on Wednesday, June 24th. They issued a "buy" rating and a $12.00 target price for the company. Royal Bank Of Canada lifted their price target on BlackBerry from $4.50 to $9.00 and gave the company a "sector perform" rating in a research report on Friday, June 26th. Canadian Imperial Bank of Commerce boosted their price objective on BlackBerry from $10.00 to $13.00 and gave the stock an "outperformer" rating in a research note on Friday, June 26th. TD Securities restated a "hold" rating and issued a $8.00 price objective on shares of BlackBerry in a report on Friday, June 26th. Finally, Zacks Research lowered BlackBerry from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, BlackBerry currently has a consensus rating of "Hold" and a consensus price target of $8.92.

BlackBerry Stock Down 5.5%

BB stock opened at $8.17 on Friday. BlackBerry has a 52 week low of $3.12 and a 52 week high of $13.59. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 90.79 and a beta of 2.25. The firm's 50-day moving average is $9.42 and its two-hundred day moving average is $6.75. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.26.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. BlackBerry had a net margin of 10.31% and a return on equity of 11.66%. The company had revenue of $152.90 million during the quarter, compared to analyst estimates of $136.10 million. During the same period in the prior year, the business posted $0.02 EPS. The business's revenue for the quarter was up 25.6% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.160-0.200 EPS and its Q2 2027 guidance at 0.030-0.040 EPS. On average, analysts forecast that BlackBerry will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In related news, CEO John Joseph Giamatteo sold 152,012 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $11.35, for a total transaction of $1,725,336.20. Following the completion of the sale, the chief executive officer directly owned 687,246 shares of the company's stock, valued at $7,800,242.10. This represents a 18.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip S. Kurtz sold 6,414 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $11.07, for a total transaction of $71,002.98. Following the sale, the insider owned 125,158 shares of the company's stock, valued at $1,385,499.06. The trade was a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 355,858 shares of company stock valued at $4,012,270 over the last quarter. Company insiders own 0.51% of the company's stock.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors and hedge funds have recently modified their holdings of BB. General American Investors Co. Inc. acquired a new stake in shares of BlackBerry during the fourth quarter worth $3,892,000. Renaissance Technologies LLC boosted its position in shares of BlackBerry by 139.2% in the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company's stock valued at $11,488,000 after purchasing an additional 2,063,153 shares during the period. Havemeyer Place LP acquired a new position in shares of BlackBerry in the 4th quarter valued at $1,349,000. Deepwater Asset Management LLC purchased a new position in BlackBerry in the 2nd quarter worth about $9,240,000. Finally, Legal & General Group Plc purchased a new position in BlackBerry in the 2nd quarter worth about $480,710,000. Institutional investors and hedge funds own 54.48% of the company's stock.

About BlackBerry

BlackBerry Limited, formerly known as Research In Motion (RIM), is a Canadian enterprise software and cybersecurity company based in Waterloo, Ontario. Since its founding in 1984, the firm has evolved from a pioneer in mobile devices into a specialist in secure communications, endpoint management, and embedded systems software. BlackBerry's core mission today centers on delivering security-first solutions that protect critical data and infrastructure across diverse industries.

At the heart of BlackBerry's offerings is the BlackBerry Spark® platform, which combines unified endpoint management (UEM), secure communications, and artificial intelligence–driven threat detection into a single framework.

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