BlackBerry (NYSE:BB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BlackBerry (NYSE:BB - Free Report) from a hold rating to a buy rating in a report published on Sunday.

Other equities research analysts have also issued reports about the company. CIBC cut their price objective on BlackBerry from $7.00 to $6.00 and set an "outperformer" rating on the stock in a research report on Thursday, April 3rd. Canaccord Genuity Group dropped their price target on BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of BlackBerry from $3.75 to $4.00 and gave the company a "sector perform" rating in a report on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $4.38.

BlackBerry Trading Up 12.9%

BlackBerry stock traded up $0.56 during trading hours on Friday, reaching $4.89. The stock had a trading volume of 64,654,602 shares, compared to its average volume of 14,172,985. The company has a fifty day simple moving average of $3.83 and a 200-day simple moving average of $4.03. BlackBerry has a 52 week low of $2.01 and a 52 week high of $6.24. The stock has a market cap of $2.91 billion, a PE ratio of -37.62 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.72 and a quick ratio of 1.72.

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

Insider Activity at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 29,940 shares of BlackBerry stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the transaction, the senior vice president now directly owns 42,398 shares of the company's stock, valued at $126,770.02. This trade represents a 41.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 37,216 shares of company stock worth $112,025 over the last ninety days. 0.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in shares of BlackBerry during the fourth quarter valued at approximately $40,000. SBI Securities Co. Ltd. bought a new position in BlackBerry during the 4th quarter valued at approximately $97,000. Bravias Capital Group LLC purchased a new position in BlackBerry during the fourth quarter valued at $45,000. Global Strategic Investment Solutions LLC bought a new stake in BlackBerry in the fourth quarter worth $76,000. Finally, Raymond James Financial Inc. bought a new stake in BlackBerry in the fourth quarter worth $544,000. Hedge funds and other institutional investors 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.