BlackBerry Limited (NYSE:BB) Receives Consensus Recommendation of “Hold” from Analysts

BlackBerry Limited (NYSE:BBGet Rating) has earned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $8.00.

A number of equities research analysts have recently issued reports on BB shares. Royal Bank of Canada dropped their price target on BlackBerry from $7.00 to $6.50 and set a “sector perform” rating for the company in a research report on Thursday, May 19th. Canaccord Genuity Group dropped their price target on BlackBerry from $7.00 to $6.00 in a research report on Thursday, May 19th. Finally, TD Securities dropped their price target on BlackBerry from $7.00 to $6.50 and set a “reduce” rating for the company in a research report on Friday, April 1st.

NYSE:BB opened at $5.37 on Friday. BlackBerry has a 12 month low of $4.70 and a 12 month high of $13.33. The stock has a 50 day moving average of $5.79 and a two-hundred day moving average of $7.10. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.48. The firm has a market cap of $3.10 billion, a P/E ratio of -5.54 and a beta of 1.36.

BlackBerry (NYSE:BBGet Rating) last posted its quarterly earnings data on Thursday, March 31st. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.06. The company had revenue of $185.00 million during the quarter, compared to analyst estimates of $186.04 million. BlackBerry had a negative return on equity of 6.13% and a negative net margin of 60.16%. BlackBerry’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. On average, research analysts forecast that BlackBerry will post -0.2 earnings per share for the current year.

In related news, insider Marjorie Dickman sold 68,519 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $5.70, for a total value of $390,558.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 85,860 shares of company stock worth $510,211 over the last quarter. 1.60% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in BlackBerry by 138.0% during the first quarter. Bank of America Corp DE now owns 2,545,157 shares of the company’s stock worth $18,987,000 after purchasing an additional 1,475,870 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in BlackBerry by 35.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,756,010 shares of the company’s stock worth $13,100,000 after purchasing an additional 461,476 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of BlackBerry in the first quarter valued at $843,000. Neuberger Berman Group LLC acquired a new stake in shares of BlackBerry in the first quarter valued at $157,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of BlackBerry by 1.5% in the first quarter. The Manufacturers Life Insurance Company now owns 534,871 shares of the company’s stock valued at $3,973,000 after acquiring an additional 8,065 shares in the last quarter. Institutional investors own 36.14% of the company’s stock.

About BlackBerry (Get Rating)

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 BlackBerry Cyber Suite, which provides Cylance AI and machine learning-based cybersecurity solutions, including BlackBerry Protect, an EPP and available MTD solution; BlackBerry Optics, an EDR solution that provides visibility into and prevention of malicious activity; BlackBerry Guard, a managed detection and response solution; BlackBerry Gateway, an AI-empowered ZTNA solution; and BlackBerry Persona, a UEBA solution that provides authentication by validating user identity in real time.

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