BlackBerry Limited (BB) – What Are Investment Firms Saying About This Stock?

Shares of BlackBerry Limited (NYSE:BB) have earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $9.86.

Several research analysts have recently weighed in on BB shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $9.00 price target on shares of BlackBerry in a research note on Monday, September 21st. Zacks Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Weiss Ratings raised BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Finally, Canaccord Genuity Group lowered their target price on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating on the stock in a research note on Friday, September 25th.

Insider Transactions at BlackBerry

In related news, CEO John Giamatteo sold 99,000 shares of the stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $8.74, for a total transaction of $865,260.00. Following the transaction, the chief executive officer owned 542,494 shares in the company, valued at $4,741,397.56. This represents a 15.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tim Foote sold 8,441 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $8.36, for a total transaction of $70,566.76. Following the completion of the sale, the chief financial officer owned 71,616 shares in the company, valued at $598,709.76. This represents a 10.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 384,433 shares of company stock valued at $3,481,255. Company insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in shares of BlackBerry in the 2nd quarter worth $31,000. CoreCap Advisors LLC bought a new stake in shares of BlackBerry in the second quarter worth $31,000. Elevation Wealth Partners LLC bought a new stake in shares of BlackBerry in the second quarter worth $32,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of BlackBerry in the third quarter worth $28,000. Finally, Global Retirement Partners LLC purchased a new stake in BlackBerry during the second quarter valued at $50,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.

BlackBerry Price Performance

Shares of BB opened at $8.90 on Tuesday. The company has a market capitalization of $5.23 billion, a P/E ratio of 74.21 and a beta of 2.20. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $8.33 and a 200 day moving average of $8.14. BlackBerry has a twelve month low of $3.12 and a twelve month high of $13.59.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The company had revenue of $166.56 million during the quarter, compared to analyst estimates of $144.22 million. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. As a group, equities research analysts anticipate that BlackBerry will post 0.17 earnings per share for the current fiscal year.

BlackBerry Company Profile

BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.

BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.