With over 35.54 million BlackBerry Limited (BB) shares trading Friday and a closing price of $5.39 on the day, the dollar volume was approximately $191.54 million. The shares have shown a positive half year performance of 46.07% and its price on 09/15/23 gained nearly 0.19%. Currently, there are 582.81M common shares owned by the public and among those 573.09M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for BB have a consensus price objective of $6.39. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $4.50. The average price target is 4.26% above its recent price level and a downside to the estimated low will see the stock lose -19.78% over that period. But an upside of 55.08% will see the stock hit the forecast high price target while median target price for the stock is $6.00.
Insiders at the company have transacted a total of 97 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 19,548,328 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 18,147,692 shares.
Shares of BlackBerry Limited (NYSE: BB) opened at $5.40, up $0.02 from a prior closing price of $5.38. However, the script later moved the day high at 5.47, up 0.19%. The company’s stock has a 5-day price change of 18.20% and 4.46% over the past three months. BB shares are trading 65.34% year to date (YTD), with the 12-month market performance down to -9.56% lower. It has a 12-month low price of $3.17 and touched a high of $6.10 over the same period. BB has an average intraday trading volume of 5.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.67%, 10.53%, and 19.61% respectively.
Institutional ownership of BlackBerry Limited (NYSE: BB) shares accounts for 56.60% of the company’s 582.81M shares outstanding.
It has a market capitalization of $3.14B and a beta (3y monthly) value of 1.52. The earnings-per-share (ttm) stands at -$0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.21% over the week and 5.34% over the month.
Analysts forecast that BlackBerry Limited (BB) will achieve an EPS of -$0.06 for the current quarter, -$0.01 for the next quarter and $0.04 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 105.60%, and 514.29% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate BlackBerry Limited (BB) as a “Hold” at a consensus score of 3.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 8 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BB, a number of firms have released research notes about the stock. CIBC stated their Neutral rating for the stock in a research note on May 18, 2023, with the firm’s price target at $4.20-$6.50.