BlackBerry Limited (NYSE:BB) Receives Average Rating of “Hold” from Analysts

Shares of BlackBerry Limited (NYSE:BB) have received an average rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.45.

BB has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a research report on Thursday. CIBC raised shares of BlackBerry from a “neutral” rating to a “sector outperform” rating in a report on Thursday. Robert W. Baird reduced their price target on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday. Canaccord Genuity Group lowered their price objective on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group cut their target price on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday.

Hedge Funds Weigh In On BlackBerry

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. bought a new stake in BlackBerry during the 3rd quarter valued at $25,000. Highlander Capital Management LLC lifted its holdings in BlackBerry by 77.8% in the fourth 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 during the period. Headlands Technologies LLC acquired a new stake in BlackBerry in the fourth quarter worth about $58,000. Oxford Asset Management LLP bought a new position in BlackBerry in the 4th quarter valued at about $60,000. Finally, Rathbones Group PLC increased its stake in BlackBerry by 52.0% during the 3rd quarter. Rathbones Group PLC now owns 15,196 shares of the company’s stock valued at $72,000 after buying an additional 5,196 shares during the period. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Stock Performance

BB opened at $2.45 on Friday. The company has a 50-day moving average of $2.76 and a 200-day moving average of $2.97. 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 has a 1-year low of $2.20 and a 1-year high of $5.75.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, June 26th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $132.05 million. During the same period in the previous year, the company earned $0.04 earnings per share. BlackBerry’s quarterly revenue was down 61.4% on a year-over-year basis. As a group, analysts forecast that BlackBerry will post -0.09 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.