Wall Street Zen lowered shares of BlackBerry (NYSE:BB – Free Report) from a buy rating to a hold rating in a report published on Saturday.
Several other research firms have also weighed in on BB. Canaccord Genuity Group increased their target price on BlackBerry from $8.20 to $10.30 and gave the company a “hold” rating in a research note on Friday, June 26th. Stifel Nicolaus initiated coverage on BlackBerry in a research report on Wednesday, June 24th. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings raised BlackBerry from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Canadian Imperial Bank of Commerce increased their price target on shares of BlackBerry from $10.00 to $13.00 and gave the company an “outperformer” rating in a research report on Friday, June 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of BlackBerry from $4.50 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.92.
Read Our Latest Analysis on BB
BlackBerry Price Performance
BlackBerry (NYSE:BB – Get Free Report) last issued its earnings results on Thursday, June 25th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $152.90 million during the quarter, compared to analysts’ expectations of $136.10 million. BlackBerry had a net margin of 10.31% and a return on equity of 11.66%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS. BlackBerry has set its FY 2027 guidance at 0.160-0.200 EPS and its Q2 2027 guidance at 0.030-0.040 EPS. As a group, analysts forecast that BlackBerry will post 0.13 EPS for the current year.
Insiders Place Their Bets
In other BlackBerry news, CFO Tim Foote sold 8,235 shares of BlackBerry stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $10.92, for a total transaction of $89,926.20. Following the transaction, the chief financial officer directly owned 73,535 shares in the company, valued at approximately $803,002.20. The trade was a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Joseph Giamatteo sold 152,012 shares of the business’s stock in a transaction dated 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 completion of 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 355,858 shares of company stock worth $4,012,270. 0.51% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On BlackBerry
Several institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc bought a new stake in BlackBerry during the 2nd quarter worth approximately $480,710,000. First Trust Advisors LP lifted its stake in BlackBerry by 34.4% in the fourth quarter. First Trust Advisors LP now owns 24,991,652 shares of the company’s stock valued at $94,718,000 after buying an additional 6,399,502 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of BlackBerry by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 23,935,970 shares of the company’s stock valued at $90,334,000 after buying an additional 142,924 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of BlackBerry by 1.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,799,334 shares of the company’s stock valued at $77,116,000 after buying an additional 209,448 shares during the period. Finally, Bank of America Corp DE increased its position in shares of BlackBerry by 21.3% during the third quarter. Bank of America Corp DE now owns 5,584,564 shares of the company’s stock worth $27,253,000 after acquiring an additional 980,359 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.
About BlackBerry
BlackBerry Limited, formerly known as Research In Motion (RIM), is a Canadian enterprise software and cybersecurity company based in Waterloo, Ontario. Since its founding in 1984, the firm has evolved from a pioneer in mobile devices into a specialist in secure communications, endpoint management, and embedded systems software. BlackBerry’s core mission today centers on delivering security-first solutions that protect critical data and infrastructure across diverse industries.
At the heart of BlackBerry’s offerings is the BlackBerry Spark® platform, which combines unified endpoint management (UEM), secure communications, and artificial intelligence–driven threat detection into a single framework.
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