BlackBerry Limited (NYSE:BB) Stock Now Rated “Hold” by Wall Street Analysts

Shares of BlackBerry Limited (NYSE:BB) have received a consensus rating of “Hold” from the nine analysts that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $9.86.

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

Insider Buying and Selling

In related news, CFO Tim Foote sold 8,441 shares of BlackBerry stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $8.36, for a total transaction of $70,566.76. Following the sale, the chief financial officer directly owned 71,616 shares of the company’s stock, valued at approximately $598,709.76. The trade was a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Giamatteo sold 99,000 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The stock was 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 of the company’s stock, valued at approximately $4,741,397.56. This represents a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 384,433 shares of company stock worth $3,481,255 in the last quarter. Corporate insiders own 0.51% of the company’s stock.

Institutional Trading of BlackBerry

Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in shares of BlackBerry during the second quarter worth $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BlackBerry during the 2nd quarter valued at $69,786,000. Bank of America Corp DE acquired a new stake in shares of BlackBerry during the 2nd quarter valued at $64,718,000. Renaissance Technologies LLC boosted its holdings in shares of BlackBerry by 139.2% during the 1st quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company’s stock valued at $11,488,000 after acquiring an additional 2,063,153 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in BlackBerry during the 2nd quarter worth $42,002,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Stock Up 3.1%

NYSE BB opened at $9.19 on Tuesday. The business has a fifty day moving average price of $8.36 and a two-hundred day moving average price of $6.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.38 and a quick ratio of 2.38. BlackBerry has a fifty-two week low of $3.12 and a fifty-two week high of $13.59. The stock has a market capitalization of $5.40 billion, a PE ratio of 76.61 and a beta of 2.20.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. BlackBerry had a return on equity of 13.71% and a net margin of 13.09%. The firm had revenue of $166.56 million for the quarter, compared to the consensus estimate of $144.22 million. During the same quarter last year, the business posted $0.04 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Equities analysts expect 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.