why BlackBerry Limited [BB] is a Good Choice for Investors After New Price Target of $5.71

BlackBerry Limited [NYSE: BB] surged by $0.12 during the normal trading session on Friday and reaching a high of $5.15 during the day while it closed the day at $5.11. The company report on November 12, 2020 that Aireon Announces Strategic Partnership with The Federal Aviation Administration for Space-Based ADS-B Data Exploration.

MCLEAN, Va., Nov. 12, 2020 /CNW/ — Aireon LLC (Aireon) announces a new partnership today with the Federal Aviation Administration (FAA) to explore innovative uses of space-based Automatic Dependent Surveillance-Broadcast (ADS-B) across the entire air traffic management spectrum using a global dataset. Under the agreement, in which L3Harris Technologies is the prime contractor, the FAA will have broad, intra-agency access to Aireon’s high fidelity, real-time air traffic surveillance data to support the FAA evaluation of a variety of applications, including validation and integration into air traffic control automation platforms, airspace safety analysis, accident investigation data analysis, airport surface applications, search and rescue, air traffic management support, remote situational awareness and commercial space.

Seventeen percent of the world’s airspace is controlled by the FAA, and much of that airspace is oceanic, remote, or over mountainous terrain. The use of Aireon’s data is the FAA’s latest effort to ensure the safest and most efficient airspace through the modernization of infrastructure and the evaluation of advanced technologies.

BlackBerry Limited stock has also gained 5.80% of its value over the past 7 days. However, BB stock has inclined by 6.24% in the 3 months of the year. Over the past six months meanwhile, it has gained 13.81% and lost -20.40% year-on date.

The market cap for BB stock reached $2.78 billion, with 558.88 million shares outstanding and 549.07 million shares in the current float. Compared to the average trading volume of 4.08M shares, BB reached a trading volume of 5354179 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about BlackBerry Limited [BB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BB shares is $5.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BB stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Securities have made an estimate for BlackBerry Limited shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 01, 2020. The new note on the price target was released on November 04, 2019, representing the official price target for BlackBerry Limited stock. Previously, the target price had yet another drop from $14.50 to $10, while TD Securities kept a Buy rating on BB stock. On September 25, 2019, analysts decreased their price target for BB shares from 9 to 7.50.

The Average True Range (ATR) for BlackBerry Limited is set at 0.19, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 2.74. The Price to Book ratio for the last quarter was 1.49, with the Price to Cash per share for the same quarter was set at 1.65. Price to Free Cash Flow for BB in the course of the last twelve months was 43.41 with Quick ratio for the last quarter at 1.20.

BB stock trade performance evaluation

BlackBerry Limited [BB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.80. With this latest performance, BB shares dropped by -0.97% in over the last four-week period, additionally plugging by 13.81% over the last 6 months – not to mention a drop of -5.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BB stock in for the last two-week period is set at 58.11, with the RSI for the last a single of trading hit 61.12, and the three-weeks RSI is set at 56.03 for BlackBerry Limited [BB]. The present Moving Average for the last 50 days of trading for this stock 4.82, while it was recorded at 5.05 for the last single week of trading, and 4.74 for the last 200 days.

BlackBerry Limited [BB]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and BlackBerry Limited [BB] shares currently have an operating margin of -16.25 and a Gross Margin at +55.19. BlackBerry Limited’s Net Margin is presently recorded at -14.62.

Return on Total Capital for BB is now -5.12, given the latest momentum, and Return on Invested Capital for the company is -5.10. Return on Equity for this stock declined to -5.87, with Return on Assets sitting at -3.88. When it comes to the capital structure of this company, BlackBerry Limited [BB] has a Total Debt to Total Equity ratio set at 29.97. Additionally, BB Total Debt to Total Capital is recorded at 23.06, with Total Debt to Total Assets ending up at 19.50. Long-Term Debt to Equity for the company is recorded at 4.74, with the Long-Term Debt to Total Capital now at 3.65.

Reflecting on the efficiency of the workforce at the company, BlackBerry Limited [BB] managed to generate an average of -$54,935 per employee. Receivables Turnover for the company is 4.54 with a Total Asset Turnover recorded at a value of 0.27.BlackBerry Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Earnings per share (EPS) analysis for BlackBerry Limited [BB] stock

With the latest financial reports released by the company, BlackBerry Limited posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BB.

BlackBerry Limited [BB]: Insider Ownership positions

There are presently around $1,355 million, or 56.60% of BB stock, in the hands of institutional investors. The top three institutional holders of BB stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 61,763,862, which is approximately -2.733% of the company’s market cap and around 11.20% of the total institutional ownership; FAIRFAX FINANCIAL HOLDINGS LTD/ CAN, holding 46,724,700 shares of the stock with an approximate value of $238.76 million in BB stocks shares; and ONTARIO TEACHERS PENSION PLAN BOARD, currently with $101.28 million in BB stock with ownership of nearly 0% of the company’s market capitalization.

Positions in BlackBerry Limited stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 113 institutional holders increased their position in BlackBerry Limited [NYSE:BB] by around 22,572,090 shares. Additionally, 84 investors decreased positions by around 18,471,756 shares, while 61 investors held positions by with 224,064,613 shares. The mentioned changes placed institutional holdings at 265,108,459 shares, according to the latest SEC report filing. BB stock had 33 new institutional investments in for a total of 9,259,966 shares, while 31 institutional investors sold positions of 9,442,486 shares during the same period.

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