Analysts Set BlackBerry Limited (NYSE:BB) Target Price at $4.08

Shares of BlackBerry Limited (NYSE:BB) have earned an average rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $4.08.

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a research note on Thursday, April 4th. CIBC reduced their target price on shares of BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Finally, Robert W. Baird cut their price target on BlackBerry from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th.

Insider Buying and Selling at BlackBerry

In other news, Director Philip G. Brace purchased 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average cost of $2.79 per share, for a total transaction of $97,650.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $97,650. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.94% of the company’s stock.

Institutional Trading of BlackBerry

A number of large investors have recently made changes to their positions in BB. Optiver Holding B.V. bought a new position in BlackBerry during the third quarter worth about $25,000. Highlander Capital Management LLC lifted its holdings in shares of BlackBerry by 77.8% during the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after purchasing an additional 3,500 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of BlackBerry in the 3rd quarter valued at approximately $48,000. Clear Street Markets LLC bought a new stake in BlackBerry during the 3rd quarter worth approximately $48,000. Finally, PBMares Wealth Management LLC acquired a new stake in BlackBerry during the 3rd quarter worth approximately $57,000. Institutional investors own 54.48% of the company’s stock.

BlackBerry Stock Up 2.7 %

Shares of NYSE BB opened at $3.01 on Thursday. BlackBerry has a 1 year low of $2.46 and a 1 year high of $5.75. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $2.82 and a two-hundred day moving average price of $3.21.

BlackBerry (NYSE:BB) last announced its earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.06. BlackBerry had a negative return on equity of 0.24% and a negative net margin of 15.24%. The business had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $150.47 million. During the same quarter last year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities analysts forecast that BlackBerry will post -0.09 earnings per share for the current fiscal year.

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.