BlackBerry Limited (NYSE:BB) Stock Has Consensus Target Price of $8.92 According to Brokerages

BlackBerry Limited (NYSE:BB) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.25.

BB has been the subject of several research reports. Canadian Imperial Bank of Commerce raised their target price on BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research report on Friday, June 26th. Raymond James Financial upped their target price on shares of BlackBerry from $4.75 to $9.50 and gave the company a “market perform” rating in a research note on Friday, June 26th. Canaccord Genuity Group dropped their price target on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a research report on Friday, September 25th. Weiss Ratings upgraded shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, September 25th. Finally, Wall Street Zen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th.

Insider Buying and Selling

In other BlackBerry news, CFO Tim Foote sold 8,235 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $10.92, for a total transaction of $89,926.20. Following the completion of the transaction, the chief financial officer directly owned 73,535 shares in the company, valued at $803,002.20. This represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Giamatteo sold 152,012 shares of BlackBerry 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 transaction, the chief executive officer directly owned 687,246 shares of the company’s stock, valued at approximately $7,800,242.10. The trade was a 18.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 294,957 shares of company stock valued at $3,297,258. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackBerry

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of BlackBerry by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the company’s stock worth $6,673,000 after purchasing an additional 40,350 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in BlackBerry in the second quarter valued at about $31,000. Nykredit A S acquired a new position in BlackBerry in the second quarter valued at about $111,000. Amundi bought a new stake in BlackBerry during the second quarter worth about $1,086,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of BlackBerry by 127.3% during the second quarter. TD Waterhouse Canada Inc. now owns 105,040 shares of the company’s stock worth $1,348,000 after buying an additional 58,818 shares in the last quarter. Institutional investors own 54.48% of the company’s stock.

BlackBerry Trading Up 1.5%

Shares of BB opened at $9.18 on Friday. The stock’s 50-day moving average price is $8.30 and its 200 day moving average price is $7.56. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 76.46 and a beta of 2.20. BlackBerry has a 12-month low of $3.12 and a 12-month high of $13.59.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping 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 company had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. During the same quarter last year, the company earned $0.04 EPS. The company’s quarterly revenue was up 26.0% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. As a group, research analysts predict that BlackBerry will post 0.17 earnings per share for the current year.

About BlackBerry

BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.

Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.