In yesterday’s Wall Street session, BlackBerry Ltd (NYSE:BB) shares traded at $3.47, down -2.80% from the previous session.
As of this writing, 11 analysts cover BlackBerry Ltd (NYSE:BB). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $11.00 and a low of $4.00, we find $5.00. Given the previous closing price of $3.57, this indicates a potential upside of 40.06 percent. BB stock price is now -24.02% away from the 50-day moving average and -23.30% away from the 200-day moving average. The market capitalization of the company currently stands at $2.03B.
There are 8 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $5.86 as their price target over the next twelve months.
With the price target enhanced from $4.20 to $6.50, CIBC Upgraded its rating from Sector Underperform to Neutral for BlackBerry Ltd (NYSE: BB).
In other news, Kurtz Philip S., CLO & Corp. Secretary sold 15,798 shares of the company’s stock on Sep 28. The stock was sold for $72,197 at an average price of $4.57. Upon completion of the transaction, the CLO & Corp. Secretary now directly owns 16,265 shares in the company, valued at $56439.55. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 28, President of IoT ERIKSSON MATTIAS sold 11,126 shares of the business’s stock. A total of $61,861 was realized by selling the stock at an average price of $5.56. This leaves the insider owning 64,721 shares of the company worth $0.22 million. Insiders disposed of 4,272,527 shares of company stock worth roughly $14.83 million over the past 1 year. A total of 1.81% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BB stock. A new stake in BlackBerry Ltd shares was purchased by CARTENNA CAPITAL, LP during the first quarter worth $4,164,000. MILLENNIUM MANAGEMENT LLC invested $1,621,000 in shares of BB during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in BlackBerry Ltd valued at approximately $1,145,000. VESTCOR INC acquired a new stake in BB for approximately $1,041,000. GTS SECURITIES LLC purchased a new stake in BB valued at around $1,033,000 in the second quarter. In total, there are 333 active investors with 46.38% ownership of the company’s stock.
Wednesday morning saw BlackBerry Ltd (NYSE: BB) opened at $3.5200. During the past 12 months, BlackBerry Ltd has had a low of $3.17 and a high of $5.75. As of last week, the company has a debt-to-equity ratio of 0.52, a current ratio of 0.90, and a quick ratio of 0.90. The fifty day moving average price for BB is $4.5470 and a two-hundred day moving average price translates $4.5241 for the stock.
The latest earnings results from BlackBerry Ltd (NYSE: BB) was released for Aug, 2023. According to the Software – Infrastructure Company, earnings per share came in at -$0.04, beating analysts’ expectations of -$0.06 by 0.02. This compares to -$0.08 EPS in the same period last year. The net profit margin was -66.91% and return on equity was -51.13% for BB. The company reported revenue of $132.0 million for the quarter, compared to $168.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -21.43 percent. For the current quarter, analysts expect BB to generate $172.37M in revenue.
BlackBerry Ltd(BB) Company Profile
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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions. It also provides BlackBerry SecuSUITE, a multi-OS voice and text messaging solution; BlackBerry AtHoc and BlackBerry Alert, which are secure and networked critical event management solutions; BlackBerry QNX that offers real-time operating systems, hypervisors, middleware, development tools, and professional services; BlackBerry Certicom, a cryptography and key management product; BlackBerry Radar, an asset monitoring solution; and BlackBerry IVY, an intelligent vehicle data platform. In addition, the company is involved in the patent licensing and legacy service access fees business. The company was formerly known as Research In Motion Limited and changed its name to BlackBerry Limited in July 2013. BlackBerry Limited was incorporated in 1984 and is headquartered in Waterloo, Canada.
