Key Points
- Director David Chaikof bought 5,000 BlackBerry shares at an average price of $8.18, investing $40,900 in the company.
- BlackBerry’s latest quarter beat analyst estimates: adjusted earnings were $0.07 per share versus $0.04 expected, while revenue of $166.56 million was up 26% year over year.
- Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $9.86; the stock was reported down 4.3%.
BlackBerry Limited (NYSE:BB - Get Free Report) Director David Chaikof purchased 5,000 shares of the firm's stock in a transaction on Tuesday, November 3rd. The stock was bought at an average price of $8.18 per share, with a total value of $40,900.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $40,900. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
BlackBerry Trading Down 4.3%
BB opened at $8.38 on Friday. The firm has a market capitalization of $4.91 billion, a P/E ratio of 51.53 and a beta of 2.23. The firm's 50 day moving average is $8.46 and its 200-day moving average is $6.94. BlackBerry Limited has a 52-week low of $3.12 and a 52-week high of $13.59. The company has a quick ratio of 2.38, a current 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 analysts' consensus estimates of $0.04 by $0.03. The business had revenue of $166.56 million for 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 business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company 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. Analysts expect that BlackBerry Limited will post 0.17 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of BlackBerry from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $9.00 price objective on shares of BlackBerry in a research report on Monday, September 21st. Weiss Ratings upgraded BlackBerry from a "sell (d+)" rating to a "hold (c)" rating in a research note 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. Finally, Canaccord Genuity Group dropped their target price on BlackBerry from $10.30 to $9.50 and set a "hold" rating on the stock in a research report on Friday, September 25th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $9.86.
Check Out Our Latest Stock Report on BB
Hedge Funds Weigh In On BlackBerry
Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of BlackBerry during the 2nd quarter valued at approximately $480,710,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of BlackBerry during the second quarter worth approximately $69,786,000. Bank of America Corp DE bought a new stake in shares of BlackBerry in the second quarter worth $64,718,000. BlackRock Inc. bought a new stake in shares of BlackBerry in the second quarter worth $42,002,000. Finally, Primecap Management Co. CA bought a new stake in shares of BlackBerry in the second quarter worth $36,362,000. 54.48% of the stock is owned by institutional investors and hedge funds.
BlackBerry Company Profile
(
Get Free Report)
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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