BlackBerry (NYSE:BB) Trading Up 8% - Here's What Happened

Key Points

• BlackBerry shares rose 8% on Monday, trading as high as $9.00 after closing at $8.38. Volume was well below average, with about 5.0 million shares changing hands versus a 18.1 million daily average.
• Recent analyst action was mixed but slightly improved: Canadian Imperial Bank of Commerce raised its target to $10 and kept an outperform rating, while Wall Street Zen upgraded the stock to buy. Overall, the consensus rating remains Hold with an average target price of $5.73.
• BlackBerry’s latest earnings beat expectations, reporting EPS of $0.06 versus $0.04 expected and revenue of $157.96 million versus $144.27 million expected. Revenue also increased 10.1% year over year, even as insiders sold shares and hedge funds remained major holders.

BlackBerry Limited (NYSE:BB - Get Free Report) shares traded up 8% during trading on Monday . The company traded as high as $9.00 and last traded at $9.0480. 5,043,419 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 18,064,635 shares. The stock had previously closed at $8.38.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce raised their price objective on BlackBerry from $8.50 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday. Wall Street Zen raised BlackBerry from a "hold" rating to a "buy" rating in a report on Monday, June 8th. Canaccord Genuity Group cut their target price on BlackBerry from $4.60 to $4.40 and set a "hold" rating on the stock in a research note on Friday, April 10th. Royal Bank Of Canada restated a "sector perform" rating and set a $4.50 price target on shares of BlackBerry in a report on Friday, April 10th. Finally, Weiss Ratings lowered BlackBerry from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $5.73.

BlackBerry Stock Performance

The company has a market capitalization of $5.25 billion, a PE ratio of 111.96 and a beta of 2.29. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.26. The business's fifty day moving average is $6.95 and its two-hundred day moving average is $4.83.

BlackBerry (NYSE:BB - Get Free Report) last issued its earnings results on Thursday, April 9th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $157.96 million for the quarter, compared to the consensus estimate of $144.27 million. BlackBerry had a return on equity of 10.09% and a net margin of 9.69%.The company's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. BlackBerry has set its Q1 2027 guidance at 0.020-0.030 EPS and its FY 2027 guidance at 0.150-0.190 EPS. Equities research analysts predict that BlackBerry Limited will post 0.13 earnings per share for the current year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,908 shares of the business's stock in a transaction dated Saturday, April 4th. The stock was sold at an average price of $3.56, for a total value of $106,472.48. Following the completion of the transaction, the senior vice president owned 94,903 shares of the company's stock, valued at approximately $337,854.68. The trade was a 23.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Joseph Giamatteo sold 27,066 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $3.56, for a total transaction of $96,354.96. Following the transaction, the chief executive officer owned 899,146 shares in the company, valued at $3,200,959.76. This represents a 2.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 73,171 shares of company stock worth $260,489 over the last ninety days. 0.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in BlackBerry by 1.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 823,822 shares of the company's stock worth $3,106,000 after purchasing an additional 10,667 shares during the last quarter. Geode Capital Management LLC raised its stake in BlackBerry by 263.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,167,739 shares of the company's stock valued at $5,348,000 after buying an additional 846,208 shares during the last quarter. Creative Planning lifted its holdings in shares of BlackBerry by 87.5% during the 2nd quarter. Creative Planning now owns 53,413 shares of the company's stock valued at $245,000 after buying an additional 24,921 shares during the period. Flow Traders U.S. LLC bought a new position in shares of BlackBerry during the 2nd quarter valued at $86,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of BlackBerry by 1,390.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,589,886 shares of the company's stock worth $71,397,000 after buying an additional 14,544,005 shares during the last quarter. 54.48% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.