BlackBerry (NYSE:BB) Shares Gap Up – Should You Buy?

BlackBerry Limited (NYSE:BB)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $8.53, but opened at $9.14. BlackBerry shares last traded at $8.7870, with a volume of 7,492,328 shares.

Analyst Ratings Changes

A number of equities analysts recently commented on BB shares. Canadian Imperial Bank of Commerce boosted their target price on shares of BlackBerry from $10.00 to $13.00 and gave the stock an “outperformer” rating in a research note on Friday, June 26th. Royal Bank Of Canada reissued a “sector perform” rating and set a $9.00 target price on shares of BlackBerry in a research report on Monday. Stifel Nicolaus started coverage on BlackBerry in a report on Wednesday, June 24th. They issued a “buy” rating and a $12.00 price target for the company. Zacks Research cut shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Canaccord Genuity Group upped their target price on shares of BlackBerry from $8.20 to $10.30 and gave the company a “hold” rating in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.92.

BlackBerry Stock Performance

The stock’s 50-day moving average is $8.41 and its 200 day moving average is $7.26. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 96.84 and a beta of 2.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 2.20.

BlackBerry (NYSE:BB) last issued its earnings results on Thursday, June 25th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. BlackBerry had a return on equity of 11.66% and a net margin of 10.31%.The business had revenue of $152.90 million during the quarter, compared to the consensus estimate of $136.10 million. During the same period in the prior year, the business posted $0.02 EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. BlackBerry has set its FY 2027 guidance at 0.160-0.200 EPS and its Q2 2027 guidance at 0.030-0.040 EPS. As a group, analysts predict that BlackBerry Limited will post 0.13 earnings per share for the current fiscal year.

Insider Activity at BlackBerry

In related news, SVP Jennifer Armstrong-Owen sold 3,296 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $10.92, for a total value of $35,992.32. Following the completion of the transaction, the senior vice president directly owned 106,091 shares of the company’s stock, valued at $1,158,513.72. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tim Foote sold 8,235 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $10.92, for a total value of $89,926.20. Following the completion of the transaction, the chief financial officer owned 73,535 shares of the company’s stock, valued at approximately $803,002.20. This represents a 10.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 355,858 shares of company stock valued at $4,012,270 over the last 90 days. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

Several hedge funds have recently bought and sold shares of the stock. V2 Financial group LLC increased its position in BlackBerry by 6.8% during the 1st quarter. V2 Financial group LLC now owns 32,100 shares of the company’s stock worth $104,000 after purchasing an additional 2,050 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of BlackBerry in the second quarter worth approximately $31,000. CoreCap Advisors LLC acquired a new stake in shares of BlackBerry in the second quarter worth approximately $31,000. Elevation Wealth Partners LLC purchased a new stake in BlackBerry in the second quarter valued at approximately $32,000. Finally, Global Retirement Partners LLC acquired a new position in BlackBerry during the second quarter worth approximately $50,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Company Profile

BlackBerry Limited is a Canadian software company headquartered in Waterloo, Ontario, that provides cybersecurity and Internet of Things (IoT) solutions to enterprises, governments and other organizations worldwide. Its cybersecurity offerings include endpoint protection, endpoint management, identity and access controls, secure communications, and tools designed to help organizations monitor and respond to cyber threats.

The company’s IoT business is built around QNX, a software platform used in automotive systems and other embedded applications.