BlackBerry (NYSE:BB) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded BlackBerry from “Buy” to “Hold.” The broader analyst consensus is also “Hold,” with one Strong Buy, two Buy, and eight Hold ratings, and an average price target of $8.92.
• BlackBerry reported quarterly revenue of $152.9 million, up 25.6% year over year, and earnings of $0.04 per share, beating estimates of $0.03. Shares opened at $8.89, below their 50-day moving average of $9.57 but above their 200-day average of $6.42.
• Company insiders sold 355,858 shares worth about $4.0 million during the last quarter. CEO John Giamatteo sold 152,012 shares, while institutional investors own 54.48% of the stock.

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

A number of other equities analysts have also issued reports on BB. Zacks Research raised shares of BlackBerry from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. TD increased their price target on shares of BlackBerry from $5.00 to $8.00 and gave the company a "hold" rating in a report on Friday, June 26th. Canaccord Genuity Group raised their price target on shares of BlackBerry from $8.20 to $10.30 and gave the stock a "hold" rating in a research report on Friday, June 26th. TD Securities restated a "hold" rating and set a $8.00 price objective on shares of BlackBerry in a report on Friday, June 26th. Finally, Weiss Ratings upgraded shares of BlackBerry from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, BlackBerry presently has a consensus rating of "Hold" and a consensus price target of $8.92.

BlackBerry Price Performance

Shares of NYSE:BB opened at $8.89 on Friday. The business has a 50 day moving average price of $9.57 and a 200 day moving average price of $6.42. BlackBerry has a twelve month low of $3.12 and a twelve month high of $13.59. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 98.80 and a beta of 2.25. The company has a quick ratio of 2.20, a current 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 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. BlackBerry had a return on equity of 11.66% and a net margin of 10.31%.The company had revenue of $152.90 million for the quarter, compared to the consensus estimate of $136.10 million. During the same period in the previous year, the business posted $0.02 EPS. The company's revenue for the quarter was up 25.6% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.160-0.200 EPS and its Q2 2027 guidance at 0.030-0.040 EPS. Research analysts predict that BlackBerry will post 0.13 earnings per share for the current year.

Insider Transactions at BlackBerry

In related news, CEO John Joseph Giamatteo sold 152,012 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $11.35, for a total value of $1,725,336.20. Following the completion of the transaction, the chief executive officer directly owned 687,246 shares of the company's stock, valued at $7,800,242.10. This trade represents a 18.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tim Foote sold 8,235 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $10.92, for a total value of $89,926.20. Following the completion of the transaction, the chief financial officer directly owned 73,535 shares of the company's stock, valued at approximately $803,002.20. This trade represents a 10.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 355,858 shares of company stock worth $4,012,270 over the last quarter. 0.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On BlackBerry

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in BlackBerry in the second quarter valued at about $480,710,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in BlackBerry by 1,390.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,589,886 shares of the company's stock worth $71,397,000 after purchasing an additional 14,544,005 shares in the last quarter. First Trust Advisors LP lifted its stake in BlackBerry by 34.4% during the fourth quarter. First Trust Advisors LP now owns 24,991,652 shares of the company's stock worth $94,718,000 after purchasing an additional 6,399,502 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in BlackBerry during the second quarter worth about $69,786,000. Finally, BlackRock Inc. acquired a new stake in BlackBerry during the second quarter valued at approximately $42,002,000. 54.48% of the stock is owned by institutional investors.

BlackBerry Company Profile

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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