BlackBerry (NYSE:BB) PT Lowered to $4.75 at Raymond James

BlackBerry (NYSE:BB) had its price objective cut by Raymond James from $5.50 to $4.75 in a report issued on Friday, Marketbeat reports. They currently have a market perform rating on the stock.

BB has been the subject of a number of other reports. Royal Bank of Canada reiterated a sector perform rating and issued a $3.00 price objective on shares of BlackBerry in a report on Thursday, June 27th. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $3.25 to $2.70 and set a hold rating for the company in a report on Thursday, June 27th. Canaccord Genuity Group decreased their price objective on shares of BlackBerry from $3.25 to $2.70 and set a hold rating for the company in a report on Thursday, June 27th. TD Securities decreased their price objective on shares of BlackBerry from $3.00 to $2.75 and set a hold rating for the company in a report on Thursday, June 27th. Finally, Cibc World Mkts upgraded shares of BlackBerry from a hold rating to a strong-buy rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BlackBerry presently has a consensus rating of Hold and an average price target of $3.20.

BlackBerry Trading Down 2.2 %

BlackBerry stock opened at $2.43 on Friday. The company’s fifty day simple moving average is $2.75 and its 200-day simple moving average is $2.93. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.26. BlackBerry has a 12 month low of $2.20 and a 12 month high of $5.75. The stock has a market cap of $1.43 billion, a P/E ratio of -8.36 and a beta of 1.40.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The business had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $132.05 million. During the same period in the previous year, the company posted $0.04 EPS. BlackBerry’s revenue was down 61.4% on a year-over-year basis. As a group, sell-side analysts forecast that BlackBerry will post -0.09 EPS for the current fiscal year.

Institutional Trading of BlackBerry

Several large investors have recently added to or reduced their stakes in the company. Highlander Capital Management LLC grew its stake in BlackBerry by 77.8% during the fourth quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after buying an additional 3,500 shares during the last quarter. Duality Advisers LP grew its stake in BlackBerry by 4.1% during the fourth quarter. Duality Advisers LP now owns 97,086 shares of the company’s stock worth $344,000 after buying an additional 3,837 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in BlackBerry by 6.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 65,535 shares of the company’s stock worth $232,000 after buying an additional 3,958 shares during the last quarter. Private Advisor Group LLC grew its stake in BlackBerry by 28.4% during the fourth quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock worth $90,000 after buying an additional 5,645 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in BlackBerry by 1.8% during the first quarter. Maryland State Retirement & Pension System now owns 351,339 shares of the company’s stock worth $989,000 after buying an additional 6,196 shares during the last quarter. 54.48% of the stock is owned by institutional investors.

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.