Investment

TD Securities Raises BlackBerry Price Target to $9.00

Published

3 years ago

September 27, 2021

BlackBerry (NYSE: BB) had its target price raised by TD Securities from $8.50 to $9.00 in a research note released on Thursday, Analyst Ratings Network reports. TD Securities currently has a reduced rating on the stock.

TD Securities Raises BlackBerry (NYSE: BB) Price Target to $9.00

A number of other equities analysts also recently weighed in on BB. CIBC downgraded shares of BlackBerry from a neutral rating to an underperform rating and boosted their target price for the stock from $9.00 to $11.00 in a research note on Friday, June 25th.

Royal Bank of Canada reaffirmed a sell rating and issued a $9.50 target price on shares of BlackBerry in a research note on Friday, September 17th. Raymond James reiterated a market performance rating and set a $9.50 price target on shares of BlackBerry in a research report on Thursday.

Canaccord Genuity upgraded shares of BlackBerry from a sell rating to a hold rating and set a $10.00 price target for the company in a research report on Wednesday, August 18th.

Finally, Zacks Investment Research upgraded shares of BlackBerry from a sell rating to a hold rating and set a $15.00 price target for the company in a research report on Wednesday, June 2nd.

Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of Sell and a consensus target price of $10.67.

Shares of NYSE BB opened at $10.38 on Thursday. BlackBerry has a 1-year low of $4.37 and a 1-year high of $28.77. The company has a market cap of $5.89 billion, a PE ratio of -11.04, and a beta of 1.23.

The company has a current ratio of 2.37, a quick ratio of 2.37, and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $10.36 and a two-hundred-day moving average of $10.49.

BlackBerry (NYSE: BB) last announced its earnings results on Tuesday, September 21st. The company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01.

BlackBerry had a negative net margin of 61.56% and a positive return on equity of 1.02%. The company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $164.28 million.

During the same period in the previous year, the firm posted $0.10 in earnings per share. The company’s revenue was down 32.4% on a year-over-year basis.

In related news, COO Thomas Eacobacci sold 109,994 shares of the business’s stock in a transaction that occurred on Friday, July 23rd. The shares were sold at an average price of $10.06, for a total transaction of $1,106,539.64.

Following the completion of the transaction, the chief operating officer now owns 281,294 shares in the company, valued at $2,829,817.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC acquired a new position in shares of BlackBerry in the first quarter valued at approximately $34,000.

Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of BlackBerry by 751.8% in the first quarter.

Global Wealth Management Investment Advisory Inc. now owns 4,259 shares of the company’s stock valued at $36,000 after buying an additional 3,759 shares during the period. Quadrant Capital Group LLC lifted its position in shares of BlackBerry by 76.3% in the second quarter.

Quadrant Capital Group LLC now owns 3,128 shares of the company’s stock worth $38,000 after purchasing an additional 1,354 shares in the last quarter. Credit Agricole S A lifted its position in shares of BlackBerry by 74.8% in the second quarter.

Credit Agricole S A now owns 3,469 shares of the company’s stock worth $42,000 after purchasing an additional 1,484 shares in the last quarter.

Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of BlackBerry in the second quarter worth $42,000. Institutional investors own 36.16% of the company’s stock.

BlackBerry Company Profile

BlackBerry Ltd. engages in providing intelligent security software and services to enterprises and governments.

The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses on the areas of endpoint security, endpoint management, encryption, and embedded systems.

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Article Source: The Markets Daily

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