BlackBerry (NYSE:BB) Price Target Raised to $3.25 at TD Securities

BlackBerry (NYSE:BB) had its price objective raised by investment analysts at TD Securities from $2.75 to $3.25 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price target points to a potential upside of 9.06% from the stock’s current price.

A number of other research analysts have also commented on the company. Canaccord Genuity Group upped their price objective on BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a report on Friday, October 18th. StockNews.com upgraded shares of BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Royal Bank of Canada lifted their price objective on shares of BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, CIBC raised their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.34.

BlackBerry Price Performance

NYSE:BB opened at $2.98 on Wednesday. The company has a market cap of $1.76 billion, a P/E ratio of -11.92 and a beta of 1.43. The firm’s fifty day moving average price is $2.52 and its two-hundred day moving average price is $2.45. BlackBerry has a one year low of $2.01 and a one year high of $4.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44.

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

Insider Buying and Selling at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the firm’s stock in a transaction that occurred on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC bought a new position in BlackBerry in the second quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in BlackBerry by 83.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after buying an additional 5,349 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in BlackBerry during the 3rd quarter worth approximately $38,000. Werba Rubin Papier Wealth Management bought a new stake in BlackBerry during the 2nd quarter worth approximately $43,000. Finally, Viewpoint Capital Management LLC acquired a new position in BlackBerry in the 2nd quarter valued at approximately $50,000. Institutional investors own 54.48% of the company’s stock.

About BlackBerry

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.