The price of BlackBerry Ltd (NYSE:BB) shares last traded on Wall Street fell -6.79% to $2.47.
BB stock price is now -15.92% away from the 50-day moving average and -39.07% away from the 200-day moving average. The market capitalization of the company currently stands at $1.45B.
With the price target reduced from $4.50 to $4, RBC Capital Mkts maintained Sector Perform rating for BlackBerry Ltd (NYSE: BB). On May 18, 2023, CIBC Upgraded its previous ‘Sector Underperform’ rating to ‘Neutral’ on the stock increasing its target price from $4.20 to quote $6.50, while ‘TD Securities’ rates the stock as ‘Hold’
In other news, BRACE PHILIP G, Director bought 35,000 shares of the company’s stock on Feb 14 ’24. The stock was bought for $97,650 at an average price of $2.79. Upon completion of the transaction, the Director now directly owns 35,000 shares in the company, valued at $86450.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 08 ’24, Chief Financial Officer Rai Steve sold 20,047 shares of the business’s stock. A total of $65,153 was realized by selling the stock at an average price of $3.25. This leaves the insider owning 84,599 shares of the company worth $0.21 million. A total of 1.75% of the company’s stock is owned by insiders.
During the past 12 months, BlackBerry Ltd has had a low of $2.55 and a high of $5.75. As of last week, the company has a debt-to-equity ratio of 0.24, a current ratio of 0.89, and a quick ratio of 0.89. The fifty day moving average price for BB is $2.9376 and a two-hundred day moving average price translates $4.0536 for the stock.
The latest earnings results from BlackBerry Ltd (NYSE: BB) was released for Nov, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.01, beating analysts’ expectations of -$0.03 by 0.04. This compares to -$0.01 EPS in the same period last year. The net profit margin was -68.47% and return on equity was -52.59% for BB. The company reported revenue of $175.0 million for the quarter, compared to $169.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.55 percent. For the current quarter, analysts expect BB to generate $154.59M 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 has a partnership with Stellar Cyber Inc. to deliver Open XDR for comprehensive threat detection and response. 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.
