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

BlackBerry Limited (NYSE:BB - Get Free Report) has been given an average rating of "Moderate Buy" by the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $4.12.

Several research firms have recently commented on BB. Royal Bank of Canada set a $3.75 price target on shares of BlackBerry in a research report on Thursday, April 3rd. Wall Street Zen raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Canaccord Genuity Group dropped their price target 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. Finally, CIBC cut their price target on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a report on Thursday, April 3rd.

BlackBerry Trading Up 1.6%

NYSE BB opened at $4.08 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. BlackBerry has a one year low of $2.01 and a one year high of $6.24. The company has a 50-day simple moving average of $3.55 and a 200-day simple moving average of $3.86. The firm has a market capitalization of $2.43 billion, a PE ratio of -18.52 and a beta of 1.42.

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

Insider Activity at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the transaction, the senior vice president now owns 42,398 shares of the company's stock, valued at $126,770.02. This trade represents a 41.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 37,216 shares of company stock worth $112,025 over the last quarter. 0.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackBerry

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in shares of BlackBerry by 216.2% in the 1st quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock worth $27,000 after purchasing an additional 4,893 shares in the last quarter. Tower Research Capital LLC TRC grew its position in BlackBerry by 63.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after buying an additional 3,811 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in BlackBerry in the first quarter worth approximately $37,000. Mindset Wealth Management LLC bought a new position in shares of BlackBerry in the fourth quarter valued at $38,000. Finally, Quadrant Capital Group LLC lifted its position in shares of BlackBerry by 100.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock valued at $38,000 after acquiring an additional 5,008 shares during the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

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.

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