BlackBerry (NYSE:BB) Upgraded at TD Securities

BlackBerry (NYSE:BB) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a note issued to investors on Friday,Finviz reports. The brokerage currently has a $4.00 price objective on the stock. TD Securities’ target price would suggest a potential upside of 34.23% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada boosted their price objective on BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research note on Tuesday. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a report on Monday, December 9th. CIBC boosted their target price on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Canaccord Genuity Group raised their price target on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.44.

BlackBerry Stock Performance

Shares of BB opened at $2.98 on Friday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -11.92 and a beta of 1.43. BlackBerry has a 12 month low of $2.01 and a 12 month high of $4.27. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $2.53 and a 200 day moving average of $2.45.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The company had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. During the same quarter in the previous year, the firm posted $0.01 EPS. BlackBerry’s revenue was down 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that BlackBerry will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction dated Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares in the company, valued at $76,226.37. This trade represents a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after acquiring an additional 5,349 shares during the period. Geode Capital Management LLC lifted its holdings in shares of BlackBerry by 2.9% during the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after purchasing an additional 7,652 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of BlackBerry by 60.7% in the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after buying an additional 7,842 shares during the last quarter. Signaturefd LLC increased its position in BlackBerry by 65.5% during the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after buying an additional 9,063 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BlackBerry by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after buying an additional 9,156 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

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.