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

Shares of BlackBerry Limited (NYSE:BB) have earned an average recommendation of “Hold” from the ten research firms that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.25.

Several research analysts have weighed in on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 price target on shares of BlackBerry in a report on Monday, September 21st. TD raised their price objective on BlackBerry from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Stifel Nicolaus initiated coverage on BlackBerry in a research report on Wednesday, June 24th. They issued a “buy” rating and a $12.00 price objective for the company. Canaccord Genuity Group dropped 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. Finally, Canadian Imperial Bank of Commerce increased 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.

Insiders Place Their Bets

In related news, SVP Jennifer Armstrong-Owen sold 3,296 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $10.92, for a total value of $35,992.32. Following the completion of the sale, the senior vice president directly owned 106,091 shares in the company, valued at approximately $1,158,513.72. The trade was a 3.01% 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 the SEC website. Also, insider Philip S. Kurtz sold 6,414 shares of BlackBerry stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $11.07, for a total transaction of $71,002.98. Following the completion of the transaction, the insider owned 125,158 shares in the company, valued at approximately $1,385,499.06. This trade represents a 4.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 355,858 shares of company stock worth $4,012,270 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.

Institutional Trading of BlackBerry

A number of institutional investors and hedge funds have recently bought and sold shares of BB. V2 Financial group LLC grew its stake in shares of BlackBerry by 6.8% in the first quarter. V2 Financial group LLC now owns 32,100 shares of the company’s stock valued at $104,000 after buying an additional 2,050 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in BlackBerry in the second quarter worth about $31,000. CoreCap Advisors LLC bought a new stake in shares of BlackBerry in the 2nd quarter valued at approximately $31,000. Elevation Wealth Partners LLC bought a new stake in BlackBerry during the second quarter valued at $32,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of BlackBerry during the second quarter worth $50,000. Institutional investors and hedge funds own 54.48% of the company’s stock.

BlackBerry Trading Down 1.0%

Shares of BB stock opened at $8.71 on Friday. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 72.62 and a beta of 2.23. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $8.29 and a 200 day moving average price of $7.48. BlackBerry has a twelve month low of $3.12 and a twelve month high of $13.59.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 earnings per share. 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 will post 0.15 earnings per share for the current fiscal year.

About BlackBerry

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.