Analysts Set BlackBerry Limited (NYSE:BB) Price Target at $3.69

Shares of BlackBerry Limited (NYSE:BB - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.69.

Several equities research analysts have issued reports on BB shares. TD Cowen raised BlackBerry from a "hold" rating to a "buy" rating and raised their price target for the company from $3.25 to $4.00 in a report on Friday, December 20th. Royal Bank of Canada raised their price objective on BlackBerry from $3.25 to $4.00 and gave the stock a "sector perform" rating in a research note on Friday, January 10th. Robert W. Baird upped their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a "neutral" rating in a research report on Friday, December 20th. StockNews.com upgraded shares of BlackBerry from a "sell" rating to a "hold" rating in a research report on Monday, December 9th. Finally, Canaccord Genuity Group increased their price target on shares of BlackBerry from $2.80 to $3.00 and gave the stock a "hold" rating in a research report on Friday, December 20th.

Insider Activity

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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Joseph Giamatteo sold 155,815 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $573,399.20. Following the transaction, the chief executive officer now owns 385,552 shares of the company's stock, valued at $1,418,831.36. This trade represents a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 244,221 shares of company stock worth $925,655. Insiders own 0.34% of the company's stock.

Institutional Trading of BlackBerry

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BB. Tower Research Capital LLC TRC raised its stake in BlackBerry by 63.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,773 shares of the company's stock worth $37,000 after buying an additional 3,811 shares during the last quarter. Quantinno Capital Management LP bought a new stake in BlackBerry in the third quarter worth approximately $38,000. Masso Torrence Wealth Management Inc. bought a new stake in BlackBerry in the fourth quarter worth approximately $38,000. Mindset Wealth Management LLC bought a new position in shares of BlackBerry during the 4th quarter worth approximately $38,000. Finally, Quadrant Capital Group LLC lifted its position in shares of BlackBerry by 100.3% during the 4th quarter. Quadrant Capital Group LLC now owns 10,000 shares of the company's stock valued at $38,000 after acquiring an additional 5,008 shares during the period. Institutional investors and hedge funds own 54.48% of the company's stock.

BlackBerry Price Performance

NYSE:BB traded down $0.33 on Wednesday, reaching $4.38. The stock had a trading volume of 43,434,752 shares, compared to its average volume of 28,768,521. The stock has a fifty day moving average price of $4.54 and a 200-day moving average price of $3.21. BlackBerry has a 1-year low of $2.01 and a 1-year high of $6.24. The company has a market capitalization of $2.61 billion, a P/E ratio of -19.91 and a beta of 1.31. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. The business had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.16% and a negative return on equity of 2.02%. BlackBerry's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. Research analysts forecast that BlackBerry will post -0.03 EPS for the current 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.