BlackBerry Limited (NYSE:BB) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Analyst sentiment is mostly neutral: Seven of nine covering firms rate BlackBerry “Hold,” while two rate it “Buy”; the average 12-month price target is $9.86.
• Quarterly results beat expectations: BlackBerry reported EPS of $0.07 versus a $0.04 consensus and revenue of $166.56 million versus estimates of $144.22 million; revenue rose 26% year over year.
• Company insiders sold a combined 384,433 shares worth about $3.48 million during the last quarter, while institutional investors own 54.48% of the stock.

Shares of BlackBerry Limited (NYSE:BB - Get Free Report) have been given an average recommendation of "Hold" by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $9.86.

A number of brokerages have issued reports on BB. Weiss Ratings upgraded BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, September 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $9.00 target price on shares of BlackBerry in a research report on Monday, September 21st. Zacks Research cut BlackBerry from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Wall Street Zen raised shares of BlackBerry from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, Canaccord Genuity Group dropped their target price on shares of BlackBerry from $10.30 to $9.50 and set a "hold" rating on the stock in a research note on Friday, September 25th.

BlackBerry Price Performance

BB stock opened at $8.90 on Friday. The company has a market capitalization of $5.21 billion, a P/E ratio of 74.21 and a beta of 2.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.38 and a current ratio of 2.38. BlackBerry has a 52-week low of $3.12 and a 52-week high of $13.59. The business has a 50-day simple moving average of $8.59 and a two-hundred day simple moving average of $7.09.

BlackBerry (NYSE:BB - Get Free Report) last released its quarterly earnings results on Thursday, September 24th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.03. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The business had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. During the same period in the prior year, the firm posted $0.04 EPS. BlackBerry's quarterly revenue was up 26.0% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Research analysts expect that BlackBerry will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Philip Kurtz sold 6,164 shares of the business's stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $8.45, for a total value of $52,085.80. Following the sale, the insider directly owned 73,109 shares in the company, valued at approximately $617,771.05. The trade was a 7.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jennifer Armstrong-Owen sold 3,379 shares of the business's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $8.36, for a total transaction of $28,248.44. Following the completion of the sale, the senior vice president directly owned 113,904 shares in the company, valued at approximately $952,237.44. This trade represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 384,433 shares of company stock worth $3,481,255 in the last quarter. 0.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BB. Legal & General Group Plc purchased a new stake in BlackBerry in the 2nd quarter worth approximately $480,710,000. First Trust Advisors LP purchased a new position in shares of BlackBerry during the third quarter worth about $182,169,000. Voya Investment Management LLC purchased a new position in shares of BlackBerry during the third quarter worth about $142,502,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of BlackBerry in the second quarter worth approximately $69,786,000. Finally, Bank of America Corp DE bought a new position in shares of BlackBerry in the second quarter worth approximately $64,718,000. Hedge funds and other institutional investors own 54.48% of the company's stock.

BlackBerry Company Profile

BlackBerry Limited is a Canadian software company that provides cybersecurity and secure communications products, as well as embedded software for vehicles and other connected systems. The company serves businesses, government agencies and organizations around the world. Its cybersecurity and communications offerings include endpoint protection, device and identity management, secure messaging, and crisis communications. BlackBerry also develops QNX software, an embedded operating system and development platform used in automotive systems and other safety-critical applications.

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