Robert W. Baird Issues Positive Forecast for BlackBerry (NYSE:BB) Stock Price

BlackBerry (NYSE:BB) had its price target upped by Robert W. Baird from $3.00 to $3.50 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

BB has been the subject of several other research reports. CIBC increased their price target on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Royal Bank of Canada boosted their price target on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday. Canaccord Genuity Group raised their price objective on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.60.

BlackBerry Stock Performance

NYSE BB opened at $3.69 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. BlackBerry has a 1-year low of $2.01 and a 1-year high of $3.89. The company has a market cap of $2.18 billion, a PE ratio of -14.76 and a beta of 1.43. The stock’s 50 day simple moving average is $2.56 and its 200-day simple moving average is $2.46.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. As a group, equities research analysts anticipate that BlackBerry will post -0.06 EPS for the current fiscal year.

Insider Activity

In related news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total value of $37,962.65. Following the sale, the insider now owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new stake in BlackBerry in the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. lifted its stake in BlackBerry by 83.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock worth $29,000 after acquiring an additional 5,349 shares during the last quarter. Quantinno Capital Management LP purchased a new position in BlackBerry in the third quarter worth approximately $38,000. Werba Rubin Papier Wealth Management acquired a new position in BlackBerry during the 2nd quarter worth approximately $43,000. Finally, Viewpoint Capital Management LLC purchased a new stake in shares of BlackBerry in the 2nd quarter valued at approximately $50,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.