BlackBerry (NYSE:BB) Shares Up 5.7% – Should You Buy?

BlackBerry Limited (NYSE:BB) traded up 5.7% during mid-day trading on Monday. The stock traded as high as $8.70 and last traded at $8.6750. Approximately 15,554,487 shares traded hands during trading, a decline of 16% from the average daily volume of 18,472,453 shares. The stock had previously closed at $8.21.

Analyst Ratings Changes

BB has been the subject of a number of recent analyst reports. Stifel Nicolaus assumed coverage on shares of BlackBerry in a research report on Wednesday, June 24th. They issued a “buy” rating and a $12.00 price objective for the company. Weiss Ratings upgraded BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. TD increased their target price on BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. TD Securities reissued a “hold” rating and issued a $8.00 price target on shares of BlackBerry in a report on Friday, June 26th. Finally, Zacks Research downgraded BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.25.

BlackBerry Price Performance

The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 72.62 and a beta of 2.23. The company’s 50 day moving average is $8.29 and its 200 day moving average is $7.48. 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 (NYSE:BB) last issued its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The company had revenue of $166.56 million for the quarter, compared to analyst estimates of $144.22 million. During the same period in the prior year, the business posted $0.04 earnings per share. The firm’s revenue for the quarter 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. Research analysts forecast that BlackBerry Limited will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at BlackBerry

In other BlackBerry news, insider Philip S. Kurtz sold 6,414 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $11.07, for a total transaction of $71,002.98. Following the sale, the insider directly owned 125,158 shares in the company, valued at approximately $1,385,499.06. The trade was a 4.87% 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, CEO John Giamatteo sold 152,012 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $11.35, for a total value of $1,725,336.20. Following the completion of the sale, the chief executive officer directly owned 687,246 shares in the company, valued at $7,800,242.10. This trade represents a 18.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 355,858 shares of company stock worth $4,012,270. 0.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackBerry

A number of large investors have recently added to or reduced their stakes in BB. The Manufacturers Life Insurance Company increased its holdings in BlackBerry by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company’s stock valued at $6,673,000 after acquiring an additional 40,350 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of BlackBerry in the second quarter valued at about $31,000. Nykredit A S purchased a new stake in shares of BlackBerry in the second quarter valued at about $111,000. Amundi acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $1,086,000. Finally, TD Waterhouse Canada Inc. increased its stake in shares of BlackBerry by 127.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 105,040 shares of the company’s stock worth $1,348,000 after purchasing an additional 58,818 shares in the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds.

BlackBerry Company Profile

BlackBerry Limited is a Canadian software company headquartered in Waterloo, Ontario, that provides cybersecurity and Internet of Things (IoT) solutions to enterprises, governments and other organizations worldwide. Its cybersecurity offerings include endpoint protection, endpoint management, identity and access controls, secure communications, and tools designed to help organizations monitor and respond to cyber threats.

The company’s IoT business is built around QNX, a software platform used in automotive systems and other embedded applications.