BlackBerry (NYSE:BB) Raised to Buy at Wall Street Zen

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

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada raised their target price on BlackBerry from $3.75 to $4.00 and gave the stock a "sector perform" rating in a research report on Friday, June 20th. Robert W. Baird raised their target price on BlackBerry from $4.00 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Canaccord Genuity Group raised their target price on BlackBerry from $4.25 to $4.60 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Finally, CIBC reaffirmed an "outperform" rating on shares of BlackBerry in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $4.60.

BlackBerry Stock Down 2.5%

BB traded down $0.10 during midday trading on Friday, hitting $3.91. 5,928,459 shares of the company's stock traded hands, compared to its average volume of 14,618,401. The company has a market cap of $2.33 billion, a PE ratio of -65.17 and a beta of 1.47. The stock's fifty day simple moving average is $4.14 and its 200-day simple moving average is $4.14. 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 has a one year low of $2.01 and a one year high of $6.24.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The company reported $0.02 EPS for the quarter, beating the consensus estimate 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 company had revenue of $121.26 million for the quarter, compared to the consensus estimate of $112.18 million. During the same quarter last year, the company posted ($0.03) earnings per share. The company's revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Philip S. Kurtz sold 16,217 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $5.25, for a total value of $85,139.25. Following the completion of the transaction, the insider directly owned 57,503 shares in the company, valued at approximately $301,890.75. The trade was a 22.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Joseph Giamatteo sold 26,998 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $4.32, for a total value of $116,631.36. Following the completion of the transaction, the chief executive officer owned 530,135 shares of the company's stock, valued at $2,290,183.20. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,417 shares of company stock valued at $267,524 over the last 90 days. Corporate insiders own 0.37% of the company's stock.

Institutional Investors Weigh In On BlackBerry

Institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of BlackBerry by 10.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,357 shares of the company's stock worth $145,000 after purchasing an additional 3,755 shares in the last quarter. Tower Research Capital LLC TRC raised 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 in the last quarter. Invesco Ltd. raised its stake in shares of BlackBerry by 3.8% during the 4th quarter. Invesco Ltd. now owns 115,116 shares of the company's stock worth $435,000 after purchasing an additional 4,226 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of BlackBerry by 6.6% during the 4th quarter. Advisory Services Network LLC now owns 70,829 shares of the company's stock worth $268,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of BlackBerry by 16.7% during the 1st quarter. Hsbc Holdings PLC now owns 31,641 shares of the company's stock worth $119,000 after purchasing an additional 4,525 shares in the last quarter. Institutional investors own 54.48% of the company's stock.

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.