BlackBerry (NYSE:BB) Given New $3.50 Price Target at Robert W. Baird

BlackBerry (NYSE:BB - Get Free Report) had its price target lifted by stock analysts at Robert W. Baird from $3.00 to $3.50 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's price target indicates a potential downside of 5.15% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada lifted their target price on BlackBerry from $3.00 to $3.25 and gave the stock a "sector perform" rating in a research report on Tuesday. Canaccord Genuity Group lifted their price objective on BlackBerry from $2.70 to $2.80 and gave the stock a "hold" rating in a report on Friday, October 18th. TD Securities raised shares of BlackBerry from a "hold" rating to a "buy" rating and upped their target price for the company from $3.25 to $4.00 in a research note on Friday. CIBC upped their price target on BlackBerry from $3.50 to $3.60 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $3.60.

BlackBerry Stock Performance

NYSE BB traded up $0.71 during trading on Friday, hitting $3.69. The company's stock had a trading volume of 40,686,305 shares, compared to its average volume of 9,691,644. BlackBerry has a 52 week low of $2.01 and a 52 week high of $3.89. The firm has a market cap of $2.18 billion, a P/E ratio of -14.76 and a beta of 1.43. The firm has a 50 day moving average price of $2.53 and a 200 day moving average price of $2.45. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. BlackBerry's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.01 earnings per share. Equities research analysts forecast that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the business's stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the transaction, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in shares of BlackBerry by 5,408.9% in the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company's stock worth $8,510,000 after acquiring an additional 3,369,296 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in BlackBerry by 15.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company's stock worth $31,238,000 after purchasing an additional 1,637,916 shares in the last quarter. Intact Investment Management Inc. raised its holdings in BlackBerry by 508.1% during the 2nd quarter. Intact Investment Management Inc. now owns 1,144,990 shares of the company's stock worth $2,862,000 after buying an additional 956,690 shares during the period. Potrero Capital Research LLC bought a new position in BlackBerry in the third quarter valued at approximately $2,359,000. Finally, Cubist Systematic Strategies LLC lifted its stake in BlackBerry by 815.6% in the second quarter. Cubist Systematic Strategies LLC now owns 548,884 shares of the company's stock valued at $1,361,000 after buying an additional 488,934 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.