Robert W. Baird Cuts BlackBerry (NYSE:BB) Price Target to $3.00

BlackBerry (NYSE:BB) had its price objective cut by Robert W. Baird from $3.50 to $3.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Royal Bank of Canada reaffirmed a sector perform rating and issued a $3.00 price objective on shares of BlackBerry in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $3.20.

BlackBerry Price Performance

BB stock opened at $2.48 on Thursday. The company’s 50-day moving average price is $2.76 and its two-hundred day moving average price is $2.95. The firm has a market cap of $1.46 billion, a P/E ratio of -8.55 and a beta of 1.37. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. BlackBerry has a 12 month low of $2.20 and a 12 month 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.30%. The business had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $132.05 million. During the same period last year, the firm posted $0.04 earnings per share. The firm’s quarterly revenue was down 61.4% compared to the same quarter last year. On average, analysts anticipate that BlackBerry will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Highlander Capital Management LLC increased its position in BlackBerry by 77.8% in the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock valued at $28,000 after acquiring an additional 3,500 shares during the period. Headlands Technologies LLC bought a new stake in shares of BlackBerry in the fourth quarter worth $58,000. Oxford Asset Management LLP acquired a new stake in BlackBerry in the fourth quarter valued at $60,000. Private Advisor Group LLC raised its position in BlackBerry by 28.4% during the 4th quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock worth $90,000 after purchasing an additional 5,645 shares during the last quarter. Finally, Breakwater Capital Group acquired a new position in BlackBerry during the 4th quarter worth about $107,000. 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.