BlackBerry Limited (NYSE:BB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of BlackBerry Limited (NYSE:BB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $3.60.

BB has been the subject of a number of recent analyst reports. CIBC lifted their target price on BlackBerry from $3.50 to $3.60 and gave the company an "outperform" rating in a report on Thursday, October 17th. Robert W. Baird upped their target price on shares of BlackBerry from $3.00 to $3.50 and gave the stock a "neutral" rating in a report on Friday, December 20th. TD Securities upgraded shares of 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 note on Friday, December 20th. Canaccord Genuity Group upped their price target on shares of BlackBerry from $2.80 to $3.00 and gave the stock a "hold" rating in a report on Friday, December 20th. Finally, TD Cowen raised 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 research note on Friday, December 20th.

Insider Activity

In related news, CEO John Joseph Giamatteo sold 155,815 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $573,399.20. Following the sale, the chief executive officer now directly owns 385,552 shares of the company's stock, valued at approximately $1,418,831.36. This represents a 28.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mattias Eriksson sold 14,475 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.68, for a total transaction of $53,268.00. Following the sale, the insider now owns 238,838 shares of the company's stock, valued at approximately $878,923.84. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,913 shares of company stock worth $643,741. Corporate insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BB. EdgePoint Investment Group Inc. boosted its holdings in BlackBerry by 15.9% in the third quarter. EdgePoint Investment Group Inc. now owns 11,922,795 shares of the company's stock worth $31,238,000 after purchasing an additional 1,637,916 shares during the last quarter. Millennium Management LLC increased its position in BlackBerry by 5,408.9% during the second quarter. Millennium Management LLC now owns 3,431,588 shares of the company's stock valued at $8,510,000 after acquiring an additional 3,369,296 shares during the last quarter. Bank of Montreal Can lifted its holdings in BlackBerry by 32.7% in the second quarter. Bank of Montreal Can now owns 1,733,809 shares of the company's stock valued at $4,300,000 after acquiring an additional 427,083 shares during the period. TD Asset Management Inc boosted its position in BlackBerry by 1.4% in the second quarter. TD Asset Management Inc now owns 1,496,185 shares of the company's stock worth $3,740,000 after purchasing an additional 21,259 shares during the last quarter. Finally, Intact Investment Management Inc. grew its stake in shares of BlackBerry by 25.7% during the 3rd quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company's stock valued at $3,789,000 after purchasing an additional 294,250 shares during the period. Hedge funds and other institutional investors own 54.48% of the company's stock.

BlackBerry Stock Performance

BB stock traded down $0.02 during mid-day trading on Tuesday, hitting $4.07. The company had a trading volume of 22,790,650 shares, compared to its average volume of 21,219,553. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $2.41 billion, a PE ratio of -16.28 and a beta of 1.30. BlackBerry has a 12 month low of $2.01 and a 12 month high of $4.35. The stock's fifty day moving average price is $2.89 and its two-hundred day moving average price is $2.57.

BlackBerry (NYSE:BB - Get Free Report) last released its earnings results on Thursday, December 19th. The company reported $0.02 earnings per share (EPS) 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 return on equity of 3.38% and a negative net margin of 21.66%. The business's revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the business posted $0.01 earnings per share. On average, analysts forecast that BlackBerry will post -0.06 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.