BlackBerry (NYSE:BB) Upgraded by TD Cowen to Buy Rating

TD Cowen upgraded shares of BlackBerry (NYSE:BB) from a hold rating to a buy rating in a research report sent to investors on Friday,Benzinga reports. The firm currently has $4.00 price target on the stock, up from their prior price target of $3.25.

A number of other equities research analysts have also weighed in on BB. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Robert W. Baird lifted their price objective on BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research report on Friday. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and increased their target price for the stock from $3.25 to $4.00 in a research report on Friday. Canaccord Genuity Group lifted their price target on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday. Finally, CIBC increased their price objective on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Six investment 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 stock. According to MarketBeat.com, BlackBerry presently has a consensus rating of “Moderate Buy” and an average price target of $3.60.

BlackBerry Stock Up 23.8 %

Shares of NYSE:BB opened at $3.69 on Friday. BlackBerry has a 1 year low of $2.01 and a 1 year high of $3.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s 50-day moving average is $2.56 and its 200 day moving average is $2.46. The company has a market cap of $2.18 billion, a PE ratio of -14.76 and a beta of 1.43.

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

Insider Activity

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction that occurred on 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 owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of BlackBerry

Several large investors have recently modified their holdings of the company. Barclays PLC lifted its stake in shares of BlackBerry by 60.2% in the 3rd quarter. Barclays PLC now owns 249,218 shares of the company’s stock worth $652,000 after purchasing an additional 93,651 shares during the period. Toronto Dominion Bank grew its holdings in BlackBerry by 5.3% during the third 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 during the period. Geode Capital Management LLC increased its position in BlackBerry by 2.9% in the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after buying an additional 7,652 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of BlackBerry in the third quarter worth about $410,000. Finally, Orion Portfolio Solutions LLC raised its stake in shares of BlackBerry by 121.1% in the third quarter. Orion Portfolio Solutions LLC now owns 37,916 shares of the company’s stock worth $99,000 after buying an additional 20,771 shares during the period. 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.