BlackBerry (NYSE:BB) Hits New 12-Month High – Still a Buy?

Shares of BlackBerry Limited (NYSE:BB) hit a new 52-week high on Monday . The company traded as high as $5.49 and last traded at $5.53, with a volume of 3413310 shares. The stock had previously closed at $5.25.

Analyst Ratings Changes

BB has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price target on BlackBerry from $3.25 to $4.00 and gave the stock a “sector perform” rating in a report on Friday, January 10th. CIBC increased their target price on shares of BlackBerry from $3.50 to $3.60 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. TD Securities raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Robert W. Baird increased their price objective on shares of BlackBerry from $3.00 to $3.50 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, Canaccord Genuity Group boosted their target price on BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.69.

BlackBerry Stock Down 5.0 %

The company has a market cap of $3.11 billion, a price-to-earnings ratio of -23.93 and a beta of 1.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s fifty day moving average is $3.88 and its two-hundred day moving average is $2.91.

BlackBerry (NYSE:BB) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $143.00 million during the quarter, compared to the consensus estimate of $144.84 million. BlackBerry had a negative return on equity of 2.02% and a negative net margin of 21.16%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. Sell-side analysts predict that BlackBerry Limited will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jay P. Chai sold 24,425 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $4.19, for a total transaction of $102,340.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mattias Eriksson sold 14,475 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.68, for a total value of $53,268.00. Following the completion of the transaction, the insider now directly owns 238,838 shares in the company, valued at approximately $878,923.84. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 244,221 shares of company stock valued at $925,655 in the last three months. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackBerry

A number of hedge funds have recently made changes to their positions in the business. Creative Planning grew its holdings in BlackBerry by 40.8% during the third quarter. Creative Planning now owns 36,551 shares of the company’s stock valued at $96,000 after purchasing an additional 10,585 shares during the period. Signaturefd LLC raised its holdings in BlackBerry by 65.5% during the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock valued at $60,000 after acquiring an additional 9,063 shares during the period. International Assets Investment Management LLC raised its stake in shares of BlackBerry by 60.7% during the 3rd quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock valued at $540,000 after purchasing an additional 7,842 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in BlackBerry by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 412,782 shares of the company’s stock valued at $1,040,000 after buying an additional 34,295 shares in the last quarter. Finally, Intact Investment Management Inc. increased its position in shares of BlackBerry by 25.7% during the third quarter. Intact Investment Management Inc. now owns 1,439,240 shares of the company’s stock valued at $3,789,000 after buying an additional 294,250 shares during the period. 54.48% of the stock is currently owned by institutional investors.

About BlackBerry

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.