Brokerages Set BlackBerry Limited (NYSE:BB) Target Price at $3.69

BlackBerry Limited (NYSE:BB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nine research firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.69.

A number of research firms have recently issued reports on BB. StockNews.com upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a report on Monday, December 9th. TD Securities upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and lifted their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. Robert W. Baird lifted their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a report on Friday, December 20th. Canaccord Genuity Group boosted their target price on shares of BlackBerry from $2.80 to $3.00 and gave the stock a "hold" rating in a report on Friday, December 20th. Finally, TD Cowen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and boosted their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th.

BlackBerry Stock Down 0.7 %

Shares of NYSE BB traded down $0.04 during midday trading on Wednesday, reaching $4.72. The company's stock had a trading volume of 66,533,766 shares, compared to its average volume of 28,392,221. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.27. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $6.24. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -21.43 and a beta of 1.31. The stock has a 50 day simple moving average of $4.54 and a 200-day simple moving average of $3.19.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. During the same period last year, the company earned $0.01 earnings per share. The firm's revenue was down 5.9% compared to the same quarter last year. Equities research analysts predict that BlackBerry will post -0.03 earnings per share for the current year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Mattias Eriksson sold 14,475 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 value of $53,268.00. Following the transaction, the insider now directly owns 238,838 shares in the company, valued at $878,923.84. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the chief executive officer now owns 385,552 shares in the company, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 244,221 shares of company stock worth $925,655 over the last ninety days. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp boosted its position in shares of BlackBerry by 3.8% in the fourth quarter. Mackenzie Financial Corp now owns 353,306 shares of the company's stock valued at $1,341,000 after acquiring an additional 13,089 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of BlackBerry by 3.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 813,155 shares of the company's stock valued at $3,074,000 after acquiring an additional 26,129 shares during the period. Vident Advisory LLC bought a new stake in shares of BlackBerry in the fourth quarter valued at about $2,938,000. Two Sigma Advisers LP boosted its position in shares of BlackBerry by 105.2% in the fourth quarter. Two Sigma Advisers LP now owns 920,458 shares of the company's stock valued at $3,479,000 after acquiring an additional 471,800 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of BlackBerry by 293.7% in the fourth quarter. Two Sigma Investments LP now owns 4,552,129 shares of the company's stock valued at $17,207,000 after acquiring an additional 3,395,786 shares during the period. 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.