BlackBerry (NYSE:BB) Upgraded at TD Cowen

TD Cowen upgraded shares of BlackBerry (NYSE:BB) from a hold rating to a buy rating in a research report released on Friday,Benzinga reports. The firm currently has $4.00 target price on the stock, up from their prior target price of $3.25.

Several other analysts also recently weighed in on BB. TD Securities raised BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the company from $3.25 to $4.00 in a research note on Friday. Canaccord Genuity Group upped their price objective on shares of BlackBerry from $2.80 to $3.00 and gave the stock a “hold” rating in a report on Friday. Royal Bank of Canada upped their price target on shares of BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday, December 17th. Robert W. Baird raised their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the company a “neutral” rating in a research note on Friday. Finally, CIBC boosted their price objective on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3.60.

BlackBerry Stock Performance

Shares of BB stock opened at $3.69 on Friday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -14.76 and a beta of 1.43. BlackBerry has a one year low of $2.01 and a one year high of $3.89. The company’s 50-day simple moving average is $2.56 and its 200-day simple moving average is $2.45. 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) last posted 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. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. During the same period in the previous year, the business posted $0.01 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Equities analysts anticipate that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insider Activity at BlackBerry

In other BlackBerry 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 transaction of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares in the company, valued at $76,226.37. This trade represents a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

Institutional Trading of BlackBerry

A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its position 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 acquiring an additional 5,349 shares during the period. Geode Capital Management LLC raised its stake in shares of BlackBerry by 2.9% in the third 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 last quarter. International Assets Investment Management LLC lifted its stake in BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after acquiring an additional 7,842 shares in the last quarter. Signaturefd LLC boosted its holdings in BlackBerry by 65.5% during the third quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after purchasing an additional 9,063 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of BlackBerry by 7.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after acquiring an additional 9,156 shares in the last quarter. 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.