Shares of BlackBerry Limited (NYSE:BB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $4.60.
BB has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of BlackBerry from $3.75 to $4.00 and gave the stock a "sector perform" rating in a report on Friday, June 20th. Canaccord Genuity Group boosted their price objective on BlackBerry from $4.25 to $4.60 and gave the company a "hold" rating in a report on Tuesday, June 24th. CIBC restated an "outperform" rating on shares of BlackBerry in a research note on Tuesday, June 24th. Wall Street Zen downgraded BlackBerry from a "buy" rating to a "hold" rating in a report on Monday. Finally, Robert W. Baird boosted their price target on BlackBerry from $4.00 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, June 25th.
View Our Latest Report on BlackBerry
Insider Buying and Selling
In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business's stock in a transaction dated Friday, April 4th. The shares were 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 directly owned 42,398 shares of the company's stock, valued at $126,770.02. The trade was a 41.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Philip S. Kurtz sold 16,217 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $5.25, for a total transaction of $85,139.25. Following the completion of the transaction, the insider owned 57,503 shares of the company's stock, valued at approximately $301,890.75. This trade represents a 22.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,353 shares of company stock valued at $190,196. 0.37% of the stock is currently owned by insiders.
Institutional Investors Weigh In On BlackBerry
A number of hedge funds have recently made changes to their positions in BB. Legal & General Group Plc grew its stake in shares of BlackBerry by 19.9% in the fourth quarter. Legal & General Group Plc now owns 33,185,748 shares of the company's stock worth $125,987,000 after purchasing an additional 5,518,216 shares in the last quarter. Voya Investment Management LLC acquired a new stake in BlackBerry in the first quarter worth about $95,166,000. Connor Clark & Lunn Investment Management Ltd. grew its position in BlackBerry by 69.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company's stock valued at $87,064,000 after buying an additional 9,442,676 shares in the last quarter. Vanguard Group Inc. increased its stake in BlackBerry by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 23,084,515 shares of the company's stock valued at $86,936,000 after buying an additional 218,684 shares during the period. Finally, Hood River Capital Management LLC acquired a new position in BlackBerry during the 4th quarter valued at about $53,267,000. Institutional investors own 54.48% of the company's stock.
BlackBerry Stock Down 5.5%
BlackBerry stock traded down $0.25 during midday trading on Tuesday, hitting $4.33. 17,634,471 shares of the company were exchanged, compared to its average volume of 14,352,458. The company has a market cap of $2.57 billion, a PE ratio of -72.17 and a beta of 1.45. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $6.24. The company's fifty day moving average price is $3.95 and its 200-day moving average price is $4.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.10 and a quick ratio of 2.10.
BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. BlackBerry had a positive return on equity of 2.29% and a negative net margin of 6.44%. The firm had revenue of $121.26 million during the quarter, compared to the consensus estimate of $112.18 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. BlackBerry's revenue for the quarter was down 15.5% on a year-over-year basis. On average, research analysts predict that BlackBerry will post -0.03 EPS for the current fiscal year.
About BlackBerry
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Get Free ReportBlackBerry 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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