BlackBerry Limited (NYSE:BB – Get Free Report) Director David Chaikof purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average cost of $8.18 per share, with a total value of $40,900.00. Following the purchase, the director owned 5,000 shares in the company, valued at $40,900. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
BlackBerry Stock Up 4.5%
Shares of BB stock opened at $8.74 on Friday. BlackBerry Limited has a 1 year low of $3.12 and a 1 year high of $13.59. The firm has a market capitalization of $5.12 billion, a P/E ratio of 72.88 and a beta of 2.23. The firm’s fifty day moving average price is $8.46 and its two-hundred day moving average price is $6.96. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.25.
BlackBerry (NYSE:BB – Get Free Report) last posted its earnings results on Thursday, September 24th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The company had revenue of $166.56 million during the quarter, compared to the consensus estimate of $144.22 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. On average, equities analysts predict that BlackBerry Limited will post 0.17 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on BB shares. Canaccord Genuity Group decreased their price target on shares of BlackBerry from $10.30 to $9.50 and set a “hold” rating for the company in a report on Friday, September 25th. Weiss Ratings raised shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Zacks Research cut shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $9.00 price target on shares of BlackBerry in a report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.86.
Read Our Latest Stock Analysis on BlackBerry
Institutional Investors Weigh In On BlackBerry
Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in BlackBerry during the 2nd quarter valued at about $480,710,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in BlackBerry in the 2nd quarter worth about $69,786,000. Bank of America Corp DE bought a new position in BlackBerry in the 2nd quarter valued at $64,718,000. BlackRock Inc. purchased a new position in shares of BlackBerry in the second quarter worth $42,002,000. Finally, Primecap Management Co. CA purchased a new stake in shares of BlackBerry in the second quarter worth $36,362,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.
About BlackBerry
BlackBerry Limited (NYSE:BB) is a Canadian software company headquartered in Waterloo, Ontario. Once best known for its BlackBerry smartphones and secure mobile messaging, the company has transitioned away from manufacturing smartphones and now focuses on cybersecurity and Internet of Things (IoT) software.
BlackBerry’s cybersecurity business provides endpoint security, unified endpoint management, secure communications and other tools designed to protect devices, applications and data.
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