Wall Street Zen Upgrades BlackBerry (NYSE:BB) to "Buy"

Key Points

• Wall Street Zen upgraded BlackBerry from a "hold" rating to a "buy" rating, signaling improved confidence among investors.
• BlackBerry's stock was priced at $4.96 after a day of trading that saw a significant volume boost, indicating increased market activity.
• The company reported a quarterly earnings increase to $0.04 EPS, surpassing expectations, although its revenue decreased by 10.6% compared to the previous year.

BlackBerry (NYSE:BB - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

A number of other equities research analysts have also weighed in on the stock. Canaccord Genuity Group reiterated a "hold" rating and set a $4.60 price objective on shares of BlackBerry in a report on Friday. CIBC reaffirmed an "outperform" rating on shares of BlackBerry in a research report on Tuesday, June 24th. Royal Bank Of Canada set a $4.50 target price on shares of BlackBerry in a research report on Friday. Finally, Robert W. Baird upped their price objective on shares of BlackBerry from $5.00 to $5.50 and gave the company a "neutral" rating in a report on Friday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $4.77.

BlackBerry Stock Performance

BB traded up $0.31 during trading on Friday, hitting $4.96. The company's stock had a trading volume of 31,519,838 shares, compared to its average volume of 9,533,019. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.27. BlackBerry has a one year low of $2.24 and a one year high of $6.24. The firm has a market cap of $2.93 billion, a PE ratio of -495.50 and a beta of 1.49. The business's 50 day simple moving average is $3.88 and its 200-day simple moving average is $3.89.

BlackBerry (NYSE:BB - Get Free Report) last announced its quarterly earnings data on Thursday, September 25th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The firm had revenue of $130.96 million for the quarter, compared to the consensus estimate of $122.03 million. BlackBerry had a negative net margin of 0.60% and a positive return on equity of 6.07%. BlackBerry's revenue was down 10.6% compared to the same quarter last year. BlackBerry has set its Q3 2026 guidance at 0.020-0.040 EPS. FY 2026 guidance at 0.110-0.15 EPS. As a group, sell-side analysts predict that BlackBerry will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other BlackBerry news, CEO John Joseph Giamatteo sold 26,998 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $4.32, for a total transaction of $116,631.36. Following the transaction, the chief executive officer owned 530,135 shares in the company, valued at $2,290,183.20. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 42,200 shares of company stock valued at $182,385 in the last 90 days. Corporate insiders own 0.37% of the company's stock.

Institutional Trading of BlackBerry

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC acquired a new position in shares of BlackBerry during the 1st quarter worth approximately $95,166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BlackBerry by 1,390.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,589,886 shares of the company's stock worth $71,397,000 after purchasing an additional 14,544,005 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of BlackBerry during the 2nd quarter worth approximately $52,441,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of BlackBerry by 69.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company's stock worth $87,064,000 after purchasing an additional 9,442,676 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of BlackBerry by 21,832.6% during the 2nd quarter. Marshall Wace LLP now owns 8,860,764 shares of the company's stock worth $40,582,000 after purchasing an additional 8,820,364 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.

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