BlackBerry (TSE:BB) Stock Price Up 6.3% – What’s Next?

Shares of BlackBerry Limited (TSE:BB) (NASDAQ:BBRY) shot up 6.3% during mid-day trading on Monday. The stock traded as high as C$12.33 and last traded at C$12.30. Approximately 4,212,824 shares changed hands during trading, an increase of 10% from the average daily volume of 3,825,112 shares. The stock had previously closed at C$11.57.

Analysts Set New Price Targets

Separately, Stifel Nicolaus set a C$12.00 price objective on shares of BlackBerry and gave the stock a “buy” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$12.00.

BlackBerry Stock Performance

The company has a debt-to-equity ratio of 27.92, a quick ratio of 1.49 and a current ratio of 2.38. The stock has a 50 day moving average of C$11.57 and a 200 day moving average of C$10.32. The stock has a market capitalization of C$7.45 billion, a P/E ratio of 97.62, a P/E/G ratio of 0.06 and a beta of 1.31.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last issued its quarterly earnings data on Thursday, September 24th. The company reported C$0.10 earnings per share for the quarter. BlackBerry had a net margin of 13.11% and a return on equity of 10.66%. The firm had revenue of C$219.02 million for the quarter. Equities analysts predict that BlackBerry Limited will post 0.0551903 EPS for the current year.

Insiders Place Their Bets

In other BlackBerry news, insider Jennifer Mary Armstrong-Owen sold 2,556 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of C$15.39, for a total transaction of C$39,336.84. Following the completion of the transaction, the insider owned 101,751 shares in the company, valued at approximately C$1,565,947.89. The trade was a 2.45% decrease in their position. Also, insider Philip Simon Kurtz sold 30,000 shares of the stock in a transaction on Tuesday, July 14th. The stock was sold at an average price of C$15.92, for a total value of C$477,600.00. Following the completion of the transaction, the insider directly owned 95,158 shares of the company’s stock, valued at approximately C$1,514,915.36. The trade was a 23.97% decrease in their position. Over the last 90 days, insiders sold 90,901 shares of company stock valued at $1,473,162. 1.70% of the stock is owned by corporate insiders.

BlackBerry Company Profile

BlackBerry (NYSE:BB)(TSX:BB) provides enterprises and governments the intelligent software and services that power the world around us. Based in Waterloo, Ontario, the company’s high-performance foundational software enables major automakers and industrial giants alike to unlock transformative applications, drive new revenue streams and launch innovative business models, all without sacrificing safety, security, and reliability. With a deep heritage in Secure Communications, BlackBerry delivers operational resiliency with a comprehensive, highly secure, and extensively certified portfolio for mobile fortification, mission-critical communications, and critical events management.