Brokerages Set BlackBerry Limited (NYSE:BB) PT at $3.23

BlackBerry Limited (NYSE:BB) has earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.26.

BB has been the subject of several analyst reports. Canaccord Genuity Group increased their price objective on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research report on Friday, October 18th. CIBC raised their price objective on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their target price on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th.

Insider Transactions at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Several large investors have recently bought and sold shares of BB. Barclays PLC lifted its stake in BlackBerry by 60.2% in the third quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after acquiring an additional 93,651 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of BlackBerry by 5.3% in the 3rd quarter. Toronto Dominion Bank now owns 718,314 shares of the company’s stock valued at $1,882,000 after purchasing an additional 36,372 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after purchasing an additional 7,652 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of BlackBerry during the third quarter worth $410,000. Finally, Orion Portfolio Solutions LLC increased its holdings in BlackBerry by 121.1% in the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock valued at $99,000 after buying an additional 20,771 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Stock Up 3.6 %

Shares of BB opened at $3.20 on Friday. BlackBerry has a 52-week low of $2.01 and a 52-week high of $4.36. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $2.49 and a two-hundred day simple moving average of $2.44. The company has a market capitalization of $1.89 billion, a PE ratio of -12.80 and a beta of 1.43.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. BlackBerry’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned ($0.06) earnings per share. As a group, equities analysts forecast that BlackBerry will post -0.06 EPS for the current year.

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.