BlackBerry (NYSE:BB) Given a $3.75 Price Target by Royal Bank Of Canada Analysts

BlackBerry (NYSE:BB - Get Free Report) received a $3.75 target price from equities research analysts at Royal Bank Of Canada in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target indicates a potential downside of 11.70% from the company's current price.

BB has been the subject of a number of other reports. Canaccord Genuity Group cut their target price on BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Wall Street Zen cut BlackBerry from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, CIBC decreased their target price on shares of BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a research report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $4.12.

BlackBerry Stock Performance

Shares of BB traded down $0.07 during mid-day trading on Friday, hitting $4.25. 12,337,044 shares of the company's stock were exchanged, compared to its average volume of 19,314,357. The company has a current ratio of 1.72, a quick ratio of 1.72 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 business's 50 day moving average is $3.76 and its two-hundred day moving average is $3.98. The firm has a market capitalization of $2.52 billion, a P/E ratio of -32.73 and a beta of 1.45.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. BlackBerry had a negative net margin of 13.84% and a negative return on equity of 1.78%. The company had revenue of $141.70 million for the quarter, compared to analysts' expectations of $137.56 million. During the same period in the previous year, the company posted $0.03 EPS. BlackBerry's revenue was down 7.3% compared to the same quarter last year. On average, equities analysts expect that BlackBerry will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total value of $89,520.60. Following the sale, the senior vice president now owns 42,398 shares of the company's stock, valued at approximately $126,770.02. This represents a 41.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 37,216 shares of company stock worth $112,025 in the last three months. Corporate insiders own 0.37% of the company's stock.

Institutional Trading of BlackBerry

Several institutional investors and hedge funds have recently made changes to their positions in BB. Parallel Advisors LLC raised its position in shares of BlackBerry by 216.2% in the first quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock valued at $27,000 after buying an additional 4,893 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of BlackBerry by 63.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after purchasing an additional 3,811 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of BlackBerry during the first quarter worth $37,000. Mindset Wealth Management LLC purchased a new stake in shares of BlackBerry in the fourth quarter valued at $38,000. Finally, Quadrant Capital Group LLC increased its stake in BlackBerry by 100.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock valued at $38,000 after purchasing an additional 5,008 shares during the last quarter. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

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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