BlackBerry (NYSE:BB) Upgraded to Strong-Buy at Zacks Research

Key Points

• BlackBerry has been upgraded to a "strong-buy" rating from Zacks Research, marking an improvement from a previous "hold" rating.
• Analysts have set a range for BlackBerry's stock price targets, with most estimating an average target price of $4.77.
• Despite posting better-than-expected earnings of $0.04 per share, BlackBerry's revenue fell by 10.6% year-over-year to $130.96 million.

BlackBerry (NYSE:BB - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird lifted their price target on shares of BlackBerry from $5.00 to $5.50 and gave the company a "neutral" rating in a research report on Friday, September 26th. Royal Bank Of Canada lifted their price target on shares of BlackBerry from $4.00 to $4.50 and gave the company a "sector perform" rating in a research report on Friday. Canaccord Genuity Group reiterated a "hold" rating and issued a $4.60 price target on shares of BlackBerry in a research report on Friday, September 26th. CIBC reissued an "outperform" rating on shares of BlackBerry in a research note on Tuesday, June 24th. Finally, Wall Street Zen raised shares of BlackBerry from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $4.77.

BlackBerry Stock Down 2.4%

NYSE BB opened at $4.88 on Monday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.27. BlackBerry has a 1-year low of $2.24 and a 1-year high of $6.24. The company has a 50 day moving average of $3.92 and a 200-day moving average of $3.89. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -488.00 and a beta of 1.49.

BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings results on Thursday, September 25th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. BlackBerry had a negative net margin of 0.60% and a positive return on equity of 6.07%. The company had revenue of $130.96 million during the quarter, compared to the consensus estimate of $122.03 million. The firm's revenue was down 10.6% on a year-over-year basis. BlackBerry has set its Q3 2026 guidance at 0.020-0.040 EPS. FY 2026 guidance at 0.110-0.15 EPS. On average, equities research analysts expect that BlackBerry will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 44,178 shares of the business's stock in a transaction on Sunday, September 28th. The shares were sold at an average price of $4.95, for a total transaction of $218,681.10. Following the sale, the insider owned 95,468 shares of the company's stock, valued at approximately $472,566.60. The trade was a 31.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company's stock.

Institutional Trading of BlackBerry

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC bought a new stake in shares of BlackBerry during the first quarter worth $95,166,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BlackBerry by 69.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company's stock worth $87,064,000 after purchasing an additional 9,442,676 shares during the period. Vanguard Group Inc. lifted its holdings in shares of BlackBerry by 1.0% during the first quarter. Vanguard Group Inc. now owns 23,084,515 shares of the company's stock worth $86,936,000 after purchasing an additional 218,684 shares during the period. First Trust Advisors LP lifted its holdings in shares of BlackBerry by 5.0% during the second quarter. First Trust Advisors LP now owns 15,748,114 shares of the company's stock worth $72,126,000 after purchasing an additional 751,216 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BlackBerry by 1,390.6% during 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 during the period. 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.

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