Analysts Set BlackBerry Limited (NYSE:BB) PT at $4.12

Shares of BlackBerry Limited (NYSE:BB - Get Free Report) have received an average rating of "Moderate Buy" from the eight research firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $4.12.

BB has been the subject of a number of analyst reports. TD Securities upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and lifted their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. TD Cowen upgraded shares of BlackBerry from a "hold" rating to a "buy" rating and upped their target price for the stock from $3.25 to $4.00 in a research note on Friday, December 20th. StockNews.com raised shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Royal Bank of Canada set a $3.75 price objective on shares of BlackBerry in a research report on Thursday, April 3rd. Finally, Canaccord Genuity Group decreased their price target on BlackBerry from $4.75 to $4.25 and set a "hold" rating for the company in a research report on Thursday, April 3rd.

BlackBerry Price Performance

Shares of BlackBerry stock traded down $0.04 during trading on Thursday, reaching $3.17. 16,343,136 shares of the company's stock were exchanged, compared to its average volume of 13,732,301. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. BlackBerry has a 1-year low of $2.01 and a 1-year high of $6.24. The company has a market cap of $1.89 billion, a P/E ratio of -14.39 and a beta of 1.30. The firm's 50-day moving average price is $4.29 and its 200 day moving average price is $3.55.

BlackBerry (NYSE:BB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 2nd. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The company had revenue of $141.70 million for the quarter, compared to analyst estimates of $137.56 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. BlackBerry's revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. As a group, research analysts anticipate that BlackBerry will post -0.03 earnings per share for the current year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, CAO Jay P. Chai sold 24,425 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $4.19, for a total value of $102,340.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jennifer Armstrong-Owen sold 29,940 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $2.99, for a total transaction of $89,520.60. Following the completion of the sale, the senior vice president now directly owns 42,398 shares of the company's stock, valued at approximately $126,770.02. This trade represents a 41.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,641 shares of company stock worth $214,365. Insiders own 0.34% of the company's stock.

Institutional Trading of BlackBerry

A number of large investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new position in shares of BlackBerry in the 4th quarter worth $53,267,000. Legal & General Group Plc boosted its holdings in shares of BlackBerry by 19.9% in the 4th quarter. Legal & General Group Plc now owns 33,185,748 shares of the company's stock worth $125,987,000 after purchasing an additional 5,518,216 shares during the period. Renaissance Technologies LLC bought a new position in shares of BlackBerry during the 4th quarter valued at approximately $19,485,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in BlackBerry by 41.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,669,715 shares of the company's stock valued at $51,856,000 after buying an additional 4,039,483 shares during the period. Finally, NewGen Asset Management Ltd bought a new stake in BlackBerry in the fourth quarter worth $14,282,000. 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.