BlackBerry (TSE:BB) Price Target Raised to C$4.75

BlackBerry (TSE:BB) (NASDAQ:BBRY) had its target price lifted by equities researchers at Canaccord Genuity Group from C$3.00 to C$4.75 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price points to a potential downside of 24.72% from the company’s current price.

Separately, TD Securities upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th.

BlackBerry Trading Up 4.3 %

BlackBerry stock traded up C$0.26 during trading hours on Tuesday, reaching C$6.31. 1,697,723 shares of the company’s stock traded hands, compared to its average volume of 3,312,725. The company has a debt-to-equity ratio of 30.90, a quick ratio of 1.49 and a current ratio of 1.37. The firm has a market capitalization of C$2.61 billion, a price-to-earnings ratio of -20.33, a PEG ratio of 0.06 and a beta of 1.07. The firm’s 50 day moving average is C$6.59 and its 200-day moving average is C$4.59. BlackBerry has a fifty-two week low of C$2.89 and a fifty-two week high of C$8.86.

Insiders Place Their Bets

In related news, Senior Officer Marjorie Jill Dickman sold 5,737 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of C$5.76, for a total transaction of C$33,045.12. Company insiders own 1.70% 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.