BlackBerry (NYSE:BB) Price Target Raised to $4.75

BlackBerry (NYSE:BB - Get Free Report) had its price objective hoisted by investment analysts at Canaccord Genuity Group from $3.00 to $4.75 in a research note issued on Tuesday, MarketBeat.com reports. The brokerage currently has a "hold" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 4.97% from the company's previous close.

BB has been the subject of a number of other research reports. Robert W. Baird boosted their price target on BlackBerry from $3.00 to $3.50 and gave the company a "neutral" rating in a research note on Friday, December 20th. Royal Bank of Canada boosted their price target on BlackBerry from $3.25 to $4.00 and gave the company a "sector perform" rating in a research note on Friday, January 10th. StockNews.com raised BlackBerry from a "sell" rating to a "hold" rating in a research note on Monday, December 9th. TD Cowen raised BlackBerry from a "hold" rating to a "buy" rating and boosted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, TD Securities raised BlackBerry from a "hold" rating to a "buy" rating and boosted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $3.91.

BlackBerry Stock Performance

BlackBerry stock traded up $0.27 during mid-day trading on Tuesday, hitting $4.53. 13,642,478 shares of the company's stock traded hands, compared to its average volume of 13,135,825. The firm has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $3.34. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $6.24. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -20.57 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.37 and a quick ratio of 1.37.

BlackBerry (NYSE:BB - Get Free Report) last posted its 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. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. During the same quarter last year, the firm earned $0.01 earnings per share. The company's revenue was down 5.9% on a year-over-year basis. On average, research analysts expect that BlackBerry will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling at BlackBerry

In other news, insider Mattias Eriksson sold 14,475 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total transaction of $53,268.00. Following the transaction, the insider now directly owns 238,838 shares of the company's stock, valued at $878,923.84. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Joseph Giamatteo sold 155,815 shares of the company's stock in a transaction that occurred on 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 directly owns 385,552 shares in the company, valued at $1,418,831.36. The trade was a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,221 shares of company stock valued at $925,655. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BlackBerry

A number of institutional investors have recently modified their holdings of BB. Creative Planning grew its holdings in BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company's stock worth $96,000 after buying an additional 10,585 shares in the last quarter. GSA Capital Partners LLP grew its stake in BlackBerry by 189.5% in the 3rd quarter. GSA Capital Partners LLP now owns 165,394 shares of the company's stock valued at $433,000 after purchasing an additional 108,268 shares during the period. CIBC Asset Management Inc grew its stake in BlackBerry by 8.9% in the 3rd quarter. CIBC Asset Management Inc now owns 700,933 shares of the company's stock valued at $1,846,000 after purchasing an additional 57,123 shares during the period. Charles Schwab Investment Management Inc. grew its stake in BlackBerry by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,212,230 shares of the company's stock valued at $3,194,000 after purchasing an additional 11,899 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in BlackBerry by 10.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 487,336 shares of the company's stock valued at $1,284,000 after purchasing an additional 46,101 shares during the period. 54.48% of the stock is owned by institutional investors and hedge funds.

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.