BlackBerry Limited (NYSE:BB) Receives Average Recommendation of "Moderate Buy" from Brokerages

BlackBerry Limited (NYSE:BB - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $4.12.

A number of equities analysts have weighed in on the stock. Royal Bank of Canada set a $3.75 price target on shares of BlackBerry in a research note on Thursday, April 3rd. Canaccord Genuity Group cut their target price on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. CIBC cut their target price on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a research note on Thursday, April 3rd. Finally, StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th.

BlackBerry Stock Down 0.1%

Shares of NYSE:BB traded down $0.01 during trading on Monday, hitting $3.89. 1,707,841 shares of the company were exchanged, compared to its average volume of 13,793,970. The stock has a market capitalization of $2.32 billion, a P/E ratio of -17.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37. BlackBerry has a 12-month low of $2.01 and a 12-month high of $6.24. The firm's 50 day moving average price is $3.65 and its 200-day moving average price is $3.70.

BlackBerry (NYSE:BB - Get Free Report) last issued its earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. During the same period in the previous year, the firm earned $0.03 EPS. The business's revenue was down 7.3% on a year-over-year basis. On average, research analysts predict that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $2.99, for a total value of $89,520.60. Following the completion of the sale, the senior vice president now directly owns 42,398 shares of the company's stock, valued at $126,770.02. The trade was a 41.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 37,216 shares of company stock valued at $112,025 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

Institutional Trading of BlackBerry

A number of institutional investors and hedge funds have recently modified their holdings of BB. Parallel Advisors LLC raised its stake in BlackBerry by 216.2% during the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock valued at $27,000 after purchasing an additional 4,893 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in BlackBerry by 63.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock valued at $37,000 after buying an additional 3,811 shares during the period. Chicago Partners Investment Group LLC bought a new stake in BlackBerry in the 1st quarter valued at $37,000. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry in the 4th quarter valued at $38,000. Finally, Mindset Wealth Management LLC bought a new stake in BlackBerry in the 4th quarter valued at $38,000. 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.