Stocks of BlackBerry Ltd (NYSE:BB) traded higher last session on Wall Street, down -1.14% to $4.35.
According to the data, BlackBerry Ltd (NYSE:BB) has 11 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $4.50, we find $6.00. Given the previous closing price of $4.40, this indicates a potential upside of 36.36 percent. BB stock price is now -11.41% away from the 50-day moving average and -3.85% away from the 200-day moving average. The market capitalization of the company currently stands at $2.54B.
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A total of 8 analysts have issued a hold rating and 2 have given it a buy rating. Brokers who have rated the stock have averaged $6.39 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 $70752.75. 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 $0.28 million. Insiders disposed of 4,225,133 shares of company stock worth roughly $18.38 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 $5,220,000. MILLENNIUM MANAGEMENT LLC invested $2,032,000 in shares of BB during the first quarter. In the first quarter, MARYLAND STATE RETIREMENT & PENSION SYSTEM acquired a new stake in BlackBerry Ltd valued at approximately $1,833,000. WALLEYE CAPITAL LLC acquired a new stake in BB for approximately $1,435,000. VESTCOR INC purchased a new stake in BB valued at around $1,305,000 in the second quarter. In total, there are 333 active investors with 46.42% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $4.3600 for BlackBerry Ltd (NYSE: BB). 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 $4.9022 and a two-hundred day moving average price translates $4.5240 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 $172.12M in revenue.
