Robert W. Baird Increases BlackBerry (NYSE:BB) Price Target to $3.50

BlackBerry (NYSE:BB) had its target price upped by Robert W. Baird from $3.00 to $3.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 17.45% from the stock’s current price.

BB has been the subject of a number of other reports. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Canaccord Genuity Group boosted their target price on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada raised their target price on shares of BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research report on Tuesday. CIBC boosted their price target on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.51.

BlackBerry Trading Down 1.0 %

BB stock opened at $2.98 on Friday. The firm’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $2.45. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -11.92 and a beta of 1.43. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. BlackBerry has a twelve month low of $2.01 and a twelve month high of $4.27.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $143.00 million for the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. As a group, analysts anticipate that BlackBerry will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Trading of BlackBerry

A number of institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC purchased a new stake in BlackBerry in the second quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. grew its position in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after purchasing an additional 5,349 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in BlackBerry during the 3rd quarter worth approximately $38,000. Werba Rubin Papier Wealth Management acquired a new position in BlackBerry during the 2nd quarter valued at approximately $43,000. Finally, Viewpoint Capital Management LLC purchased a new position in shares of BlackBerry in the second quarter worth $50,000. 54.48% of the stock is currently owned by institutional investors.

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.