BlackBerry Limited (NYSE:BB) Receives $10.25 Average PT from Analysts

BlackBerry Limited (NYSE:BB) has received a consensus rating of “Sell” from the seven brokerages that are presently covering the stock, reports. Four research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $10.25.

A number of analysts recently commented on BB shares. Canaccord Genuity upgraded BlackBerry from a “sell” rating to a “hold” rating and set a $10.00 price objective for the company in a research report on Wednesday, August 18th. Raymond James set a $9.50 price objective on shares of BlackBerry and gave the company a “market perform” rating in a research report on Friday, June 25th. TD Securities downgraded shares of BlackBerry from a “hold” rating to a “reduce” rating and set a $8.50 target price for the company. in a report on Friday, June 25th. CIBC downgraded BlackBerry from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $9.00 to $11.00 in a research note on Friday, June 25th. Finally, Zacks Investment Research raised shares of BlackBerry from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a report on Wednesday, June 2nd.

In other BlackBerry news, COO Thomas Eacobacci sold 109,994 shares of BlackBerry stock in a transaction on Friday, July 23rd. The shares were sold at an average price of $10.06, for a total value of $1,106,539.64. Following the completion of the transaction, the chief operating officer now directly owns 281,294 shares of the company’s stock, valued at approximately $2,829,817.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH purchased a new stake in BlackBerry in the 1st quarter worth about $230,235,000. Legal & General Group Plc raised its holdings in shares of BlackBerry by 82.7% in the second quarter. Legal & General Group Plc now owns 2,596,337 shares of the company’s stock worth $31,767,000 after buying an additional 1,175,483 shares during the period. Edgestream Partners L.P. bought a new stake in shares of BlackBerry during the 2nd quarter worth approximately $13,901,000. Islet Management LP purchased a new position in BlackBerry during the 1st quarter valued at $9,273,000. Finally, Voloridge Investment Management LLC boosted its holdings in BlackBerry by 662.3% during the 1st quarter. Voloridge Investment Management LLC now owns 1,216,462 shares of the company’s stock valued at $10,255,000 after acquiring an additional 1,056,882 shares during the period. Institutional investors own 36.16% of the company’s stock.

BB stock traded down $0.03 on Friday, reaching $10.01. 135,993 shares of the company traded hands, compared to its average volume of 35,297,004. The firm has a fifty day simple moving average of $10.54 and a 200-day simple moving average of $10.50. The company has a market cap of $5.67 billion, a P/E ratio of -10.71 and a beta of 1.23. BlackBerry has a one year low of $4.37 and a one year high of $28.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.37 and a quick ratio of 2.37.

BlackBerry (NYSE:BB) last released its earnings results on Wednesday, June 23rd. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $174.00 million for the quarter, compared to analysts’ expectations of $171.04 million. BlackBerry had a positive return on equity of 1.02% and a negative net margin of 61.56%. The company’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 earnings per share.

BlackBerry Company Profile

BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems.

Featured Story: Debt-To-Equity Ratio

Analyst Recommendations for BlackBerry (NYSE:BB)

Receive News & Ratings for BlackBerry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackBerry and related companies with's FREE daily email newsletter.