BlackBerry (NYSE:BB) Given “Hold” Rating at Canaccord Genuity Group

BlackBerry (NYSE:BB)‘s stock had its “hold” rating restated by stock analysts at Canaccord Genuity Group in a report issued on Friday,Benzinga reports. They currently have a $4.60 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 16.90% from the stock’s current price.

A number of other research analysts have also commented on the company. Zacks Research lowered BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Wall Street Zen raised shares of BlackBerry from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. TD Securities downgraded shares of BlackBerry from a “buy” rating to a “hold” rating and boosted their price objective for the company from $4.00 to $5.00 in a report on Friday, October 3rd. Royal Bank Of Canada increased their target price on shares of BlackBerry from $4.00 to $4.50 and gave the stock a “sector perform” rating in a research report on Friday, September 26th. Finally, Robert W. Baird raised their target price on shares of BlackBerry from $5.00 to $5.50 and gave the stock a “neutral” rating in a report on Friday, September 26th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.10.

BlackBerry Stock Performance

Shares of NYSE BB traded down $0.40 during mid-day trading on Friday, reaching $3.94. 6,812,752 shares of the company were exchanged, compared to its average volume of 14,666,919. The stock has a market capitalization of $2.32 billion, a P/E ratio of -393.50 and a beta of 1.41. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.27. The company’s 50-day simple moving average is $4.43 and its 200-day simple moving average is $4.21. BlackBerry has a twelve month low of $2.80 and a twelve month high of $6.24.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 18th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. BlackBerry had a negative net margin of 0.60% and a positive return on equity of 6.07%. The firm had revenue of $141.80 million during the quarter, compared to the consensus estimate of $137.54 million. During the same period last year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. BlackBerry has set its FY 2026 guidance at 0.140-0.160 EPS and its Q4 2026 guidance at 0.030-0.050 EPS. As a group, research analysts predict that BlackBerry will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In other BlackBerry news, insider Philip S. Kurtz sold 44,178 shares of the stock in a transaction dated Sunday, September 28th. The stock was sold at an average price of $4.95, for a total value of $218,681.10. Following the completion of the transaction, the insider directly owned 95,468 shares in the company, valued at approximately $472,566.60. This trade represents a 31.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mattias Eriksson sold 5,914 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $4.62, for a total value of $27,322.68. Following the transaction, the insider owned 291,340 shares of the company’s stock, valued at $1,345,990.80. This trade represents a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 88,565 shares of company stock valued at $423,706 in the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On BlackBerry

Large investors have recently made changes to their positions in the business. Voya Investment Management LLC bought a new stake in shares of BlackBerry in the 1st quarter worth approximately $95,166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BlackBerry by 1,390.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,589,886 shares of the company’s stock valued at $71,397,000 after buying an additional 14,544,005 shares during the period. Hood River Capital Management LLC bought a new position in shares of BlackBerry in the second quarter valued at approximately $52,441,000. Marshall Wace LLP grew its stake in BlackBerry by 21,832.6% during the second quarter. Marshall Wace LLP now owns 8,860,764 shares of the company’s stock valued at $40,582,000 after acquiring an additional 8,820,364 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in BlackBerry by 183.6% during the 2nd quarter. Bank of America Corp DE now owns 4,604,205 shares of the company’s stock worth $21,087,000 after acquiring an additional 2,980,732 shares during the period. 54.48% of the stock is owned by hedge funds and other institutional investors.

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.