BlackBerry Limited (NYSE:BB) Given Average Rating of “Hold” by Analysts

BlackBerry Limited (NYSE:BB) has received an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $3.45.

A number of equities analysts have commented on the stock. TD Securities reduced their price objective on shares of BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a research report on Thursday. Canaccord Genuity Group reduced their target price on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday. Robert W. Baird lowered their price target on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a report on Thursday. Canaccord Genuity Group reduced their price objective on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a report on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 target price on shares of BlackBerry in a research note on Thursday.

Institutional Investors Weigh In On BlackBerry

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. bought a new position in BlackBerry during the 3rd quarter worth $25,000. Highlander Capital Management LLC grew 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 worth $28,000 after purchasing an additional 3,500 shares in the last quarter. Rathbones Group PLC increased its position in shares of BlackBerry by 52.0% in the third quarter. Rathbones Group PLC now owns 15,196 shares of the company’s stock worth $72,000 after purchasing an additional 5,196 shares during the period. Headlands Technologies LLC acquired a new position in BlackBerry in the fourth quarter valued at about $58,000. Finally, Oxford Asset Management LLP bought a new stake in BlackBerry during the fourth quarter worth about $60,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Stock Performance

NYSE BB opened at $2.45 on Friday. The stock has a 50 day moving average of $2.76 and a 200-day moving average of $2.97. BlackBerry has a 12 month low of $2.20 and a 12 month high of $5.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 1.43.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.30% and a negative net margin of 25.80%. The firm had revenue of $144.00 million for the quarter, compared to the consensus estimate of $132.05 million. During the same quarter in the previous year, the business earned $0.04 earnings per share. The business’s revenue was down 61.4% compared to the same quarter last year. As a group, equities analysts expect that BlackBerry will post -0.09 earnings per share for the current fiscal 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.