Robert W. Baird Raises BlackBerry (NYSE:BB) Price Target to $5.00

BlackBerry (NYSE:BB - Get Free Report) had its price objective increased by equities research analysts at Robert W. Baird from $4.00 to $5.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's price objective points to a potential downside of 2.72% from the company's current price.

Several other research firms have also recently commented on BB. CIBC restated an "outperform" rating on shares of BlackBerry in a research report on Tuesday. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $3.75 price objective on shares of BlackBerry in a research note on Friday, June 20th. Canaccord Genuity Group restated a "hold" rating on shares of BlackBerry in a research report on Tuesday. Finally, Wall Street Zen upgraded BlackBerry from a "hold" rating to a "buy" rating in a research report on Sunday. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, BlackBerry currently has an average rating of "Moderate Buy" and a consensus target price of $4.31.

BlackBerry Trading Up 18.7%

NYSE BB opened at $5.14 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.72 and a current ratio of 1.72. BlackBerry has a one year low of $2.01 and a one year high of $6.24. The company has a 50-day simple moving average of $3.83 and a 200-day simple moving average of $4.03. The firm has a market capitalization of $3.06 billion, a PE ratio of -37.74 and a beta of 1.45.

BlackBerry (NYSE:BB - Get Free Report) last issued its earnings results on Tuesday, June 24th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. The company had revenue of $121.26 million during the quarter, compared to the consensus estimate of $112.18 million. BlackBerry had a negative return on equity of 1.78% and a negative net margin of 13.84%. BlackBerry's quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. On average, equities analysts forecast that BlackBerry will post -0.03 earnings per share for the current year.

Insider Activity

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the transaction, the senior vice president now directly owns 42,398 shares of the company's stock, valued at approximately $126,770.02. The trade was a 41.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 37,216 shares of company stock worth $112,025 over the last quarter. Corporate insiders own 0.37% of the company's stock.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC grew its stake in BlackBerry by 216.2% in the first quarter. Parallel Advisors LLC now owns 7,156 shares of the company's stock valued at $27,000 after purchasing an additional 4,893 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of BlackBerry by 63.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock valued at $37,000 after buying an additional 3,811 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of BlackBerry during the 1st quarter valued at about $37,000. Mindset Wealth Management LLC bought a new stake in shares of BlackBerry in the 4th quarter valued at approximately $38,000. Finally, Quadrant Capital Group LLC increased its holdings in BlackBerry by 100.3% in the fourth quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock worth $38,000 after buying an additional 5,008 shares during the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

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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