BlackBerry Limited (NYSE:BB – Get Free Report) rose 5.7% on Tuesday. The stock traded as high as $9.72 and last traded at $9.5950. Approximately 6,511,315 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 18,529,828 shares. The stock had previously closed at $9.08.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Wall Street Zen raised BlackBerry from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Weiss Ratings raised shares of BlackBerry from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, September 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 price target on shares of BlackBerry in a report on Monday, September 21st. Stifel Nicolaus began coverage on shares of BlackBerry in a research note on Wednesday, June 24th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Zacks Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, BlackBerry has an average rating of “Hold” and a consensus target price of $9.86.
Get Our Latest Analysis on BlackBerry
BlackBerry Price Performance
BlackBerry (NYSE:BB – Get Free Report) last issued its earnings results on Thursday, September 24th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $166.56 million during the quarter, compared to analysts’ expectations of $144.22 million. BlackBerry had a net margin of 13.09% and a return on equity of 13.71%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. BlackBerry has set its FY 2027 guidance at 0.190-0.220 EPS and its Q3 2027 guidance at 0.040-0.050 EPS. Sell-side analysts expect that BlackBerry Limited will post 0.17 EPS for the current year.
Insiders Place Their Bets
In related news, insider Philip S. Kurtz sold 4,168 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $9.18, for a total value of $38,262.24. Following the completion of the sale, the insider directly owned 68,365 shares of the company’s stock, valued at approximately $627,590.70. This represents a 5.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tim Foote sold 3,269 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $9.20, for a total transaction of $30,074.80. Following the completion of the sale, the chief financial officer directly owned 60,969 shares of the company’s stock, valued at $560,914.80. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 384,402 shares of company stock worth $4,117,199 in the last quarter. Corporate insiders own 0.51% of the company’s stock.
Institutional Trading of BlackBerry
Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in BlackBerry in the 2nd quarter worth about $31,000. CoreCap Advisors LLC acquired a new stake in shares of BlackBerry in the second quarter worth $31,000. Elevation Wealth Partners LLC acquired a new position in BlackBerry during the 2nd quarter worth $32,000. Global Retirement Partners LLC acquired a new position in shares of BlackBerry during the 2nd quarter worth about $50,000. Finally, Nykredit A S bought a new stake in shares of BlackBerry in the second quarter valued at approximately $111,000. 54.48% of the stock is currently owned by hedge funds and other institutional investors.
About BlackBerry
BlackBerry Limited is a Canadian technology company that provides cybersecurity and Internet of Things (IoT) software. Its cybersecurity offerings support endpoint protection, threat detection and response, secure communications, identity management, and unified endpoint management for businesses and government organizations.
Through its QNX business, BlackBerry supplies secure, safety-certified real-time operating systems and embedded software for automotive systems and other connected devices.
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