BlackBerry (NYSE:BB) Upgraded by Wall Street Zen to "Buy" Rating

Wall Street Zen upgraded shares of BlackBerry (NYSE:BB - Free Report) from a hold rating to a buy rating in a research note released on Friday.

A number of other equities analysts have also commented on the stock. Canaccord Genuity Group cut their price objective on shares of BlackBerry from $4.75 to $4.25 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada set a $3.75 price objective on shares of BlackBerry in a report on Thursday, April 3rd. Finally, CIBC cut their price target on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a research note on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $4.12.

BlackBerry Stock Up 1.9%

BlackBerry stock traded up $0.08 during trading on Friday, reaching $4.21. 9,281,753 shares of the company's stock were exchanged, compared to its average volume of 14,055,245. The company's 50-day moving average is $3.57 and its two-hundred day moving average is $3.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. BlackBerry has a 52-week low of $2.01 and a 52-week high of $6.24. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -19.14 and a beta of 1.45.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. The company had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. During the same quarter last year, the firm posted $0.03 earnings per share. The business's quarterly revenue was down 7.3% on a year-over-year basis. On average, analysts predict that BlackBerry will post -0.03 earnings per share for the current year.

Insider Activity at BlackBerry

In other BlackBerry news, SVP Jennifer Armstrong-Owen sold 29,940 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the sale, the senior vice president now owns 42,398 shares in the company, valued at $126,770.02. This represents a 41.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 37,216 shares of company stock valued at $112,025 over the last ninety days. Corporate insiders own 0.37% of the company's stock.

Institutional Trading of BlackBerry

Several institutional investors and hedge funds have recently bought and sold shares of BB. Cambridge Investment Research Advisors Inc. raised its holdings in shares of BlackBerry by 10.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,357 shares of the company's stock worth $145,000 after purchasing an additional 3,755 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of BlackBerry by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after purchasing an additional 3,811 shares during the period. Invesco Ltd. raised its holdings in shares of BlackBerry by 3.8% during the fourth quarter. Invesco Ltd. now owns 115,116 shares of the company's stock worth $435,000 after purchasing an additional 4,226 shares during the period. Advisory Services Network LLC raised its holdings in shares of BlackBerry by 6.6% during the fourth quarter. Advisory Services Network LLC now owns 70,829 shares of the company's stock worth $268,000 after purchasing an additional 4,375 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of BlackBerry by 16.7% during the first quarter. Hsbc Holdings PLC now owns 31,641 shares of the company's stock worth $119,000 after purchasing an additional 4,525 shares during the period. Institutional investors and hedge funds own 54.48% of the company's stock.

About BlackBerry

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.