BlackBerry (NYSE:BB) Share Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• BlackBerry shares rose above their 50-day moving average of $8.45, trading as high as $8.77. Analysts’ consensus rating is Hold, with an average price target of $9.86.
• The company beat quarterly expectations, reporting EPS of $0.07 versus $0.04 forecast and revenue of $166.56 million versus $144.22 million expected; revenue grew 26% year over year.
• Insiders have sold 384,433 shares worth about $3.48 million over the past 90 days, including sales by CEO John Giamatteo and insider John Christopher Wall.

Shares of BlackBerry Limited (NYSE:BB - Get Free Report) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $8.45 and traded as high as $8.77. BlackBerry shares last traded at $8.7610, with a volume of 19,187,990 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BB shares. Wall Street Zen raised shares of BlackBerry from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Weiss Ratings raised shares of BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, September 25th. Royal Bank Of Canada restated a "sector perform" rating and set a $9.00 target price on shares of BlackBerry in a report on Monday, September 21st. Canaccord Genuity Group decreased their price target on shares of BlackBerry from $10.30 to $9.50 and set a "hold" rating for the company in a research report on Friday, September 25th. Finally, Zacks Research cut shares of BlackBerry from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $9.86.

BlackBerry Price Performance

The company has a market cap of $5.13 billion, a PE ratio of 73.01 and a beta of 2.23. The business's 50 day moving average price is $8.45 and its 200-day moving average price is $6.91. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25.

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

Insider Activity

In other news, insider John Christopher Wall sold 3,474 shares of BlackBerry stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $9.18, for a total transaction of $31,891.32. Following the sale, the insider directly owned 13,924 shares of the company's stock, valued at approximately $127,822.32. The trade was a 19.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Giamatteo sold 151,000 shares of BlackBerry stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $9.40, for a total value of $1,419,400.00. Following the sale, the chief executive officer directly owned 641,494 shares in the company, valued at approximately $6,030,043.60. The trade was a 19.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 384,433 shares of company stock worth $3,481,255. 0.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. V2 Financial group LLC grew its holdings in BlackBerry by 6.8% in the 1st quarter. V2 Financial group LLC now owns 32,100 shares of the company's stock worth $104,000 after buying an additional 2,050 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in BlackBerry in the 2nd quarter valued at approximately $31,000. CoreCap Advisors LLC bought a new stake in BlackBerry during the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC bought a new stake in BlackBerry during the 2nd quarter valued at $32,000. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in BlackBerry during the 3rd quarter valued at $28,000. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Company Profile

BlackBerry Limited NYSE: BB is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry's cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.

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.