BlackBerry (NYSE:BB) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of BlackBerry (NYSE:BB – Free Report) from a sell rating to a hold rating in a research report report published on Monday.

BB has been the subject of several other reports. Canaccord Genuity Group upped their target price on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. CIBC upped their price objective on BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, 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 Friday, September 27th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.23.

Read Our Latest Research Report on BlackBerry

BlackBerry Stock Performance

NYSE BB opened at $2.79 on Monday. BlackBerry has a 52-week low of $2.01 and a 52-week high of $4.44. The stock has a market cap of $1.65 billion, a PE ratio of -11.14 and a beta of 1.43. The firm has a 50-day moving average of $2.46 and a 200-day moving average of $2.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44.

BlackBerry (NYSE:BB – Get Free Report) last posted its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $138.82 million. During the same quarter last year, the business earned ($0.06) EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackBerry will post -0.06 EPS for the current year.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the transaction, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in BlackBerry by 83.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares during the period. Geode Capital Management LLC raised its stake in shares of BlackBerry by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock worth $706,000 after purchasing an additional 7,652 shares during the period. International Assets Investment Management LLC raised its stake in shares of BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after purchasing an additional 7,842 shares during the period. Signaturefd LLC boosted its holdings in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after buying an additional 9,063 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in BlackBerry by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after buying an additional 9,156 shares during the period. 54.48% of the stock is owned by institutional investors.

About BlackBerry

(Get Free Report)

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.

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