BlackBerry (NYSE:BB) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of BlackBerry (NYSE:BB) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

BB has been the subject of a number of other reports. Robert W. Baird lifted their target price on shares of BlackBerry from $5.00 to $5.50 and gave the company a “neutral” rating in a research note on Friday, September 26th. Canaccord Genuity Group reiterated a “hold” rating and issued a $4.60 target price on shares of BlackBerry in a research note on Friday, September 26th. Royal Bank Of Canada lifted their target price on shares of BlackBerry from $4.00 to $4.50 and gave the company a “sector perform” rating in a research note on Friday. Wall Street Zen upgraded shares of BlackBerry from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. Finally, CIBC reiterated an “outperform” rating on shares of BlackBerry in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.77.

BlackBerry Stock Performance

Shares of BB opened at $4.88 on Monday. The company’s 50 day moving average price is $3.92 and its 200 day moving average price is $3.89. BlackBerry has a 52 week low of $2.24 and a 52 week high of $6.24. The company has a market capitalization of $2.88 billion, a PE ratio of -488.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.20 and a current ratio of 2.20.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 25th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. BlackBerry had a negative net margin of 0.60% and a positive return on equity of 6.07%. The firm had revenue of $130.96 million for the quarter, compared to the consensus estimate of $122.03 million. BlackBerry’s revenue was down 10.6% compared to the same quarter last year. BlackBerry has set its Q3 2026 guidance at 0.020-0.040 EPS. FY 2026 guidance at 0.110-0.15 EPS. Research analysts expect that BlackBerry will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Philip S. Kurtz sold 44,178 shares of the company’s stock in a transaction on Sunday, September 28th. The shares were sold at an average price of $4.95, for a total transaction of $218,681.10. Following the completion of the transaction, the insider directly owned 95,468 shares in the company, valued at $472,566.60. This represents a 31.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BlackBerry

Several institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC bought a new stake in BlackBerry in the 1st quarter valued at $95,166,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in BlackBerry by 69.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,112,391 shares of the company’s stock valued at $87,064,000 after buying an additional 9,442,676 shares during the period. Vanguard Group Inc. increased its holdings in BlackBerry by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 23,084,515 shares of the company’s stock valued at $86,936,000 after buying an additional 218,684 shares during the period. First Trust Advisors LP increased its holdings in BlackBerry by 5.0% in the 2nd quarter. First Trust Advisors LP now owns 15,748,114 shares of the company’s stock valued at $72,126,000 after buying an additional 751,216 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of BlackBerry by 1,390.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,589,886 shares of the company’s stock worth $71,397,000 after purchasing an additional 14,544,005 shares during the last quarter. Institutional investors own 54.48% of the company’s stock.

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.