CIBC lifts BlackBerry Ltd [BB] price estimate. Who else is bullish?

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BlackBerry Ltd [NYSE: BB] price plunged by -3.74 percent to reach at -$0.14. The company report on October 30, 2023 at 4:05 PM that BlackBerry Announces John Chen to Retire as Executive Chair and CEO.

Current Board Member Richard Lynch appointed Board Chair and Interim CEO.

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BlackBerry Limited (NYSE: BB; TSX: BB) today announced that John Chen, Executive Chair and CEO of BlackBerry, will retire from the Company effective November 4, 2023. This aligns with the terms of Mr. Chen’s contract and follows the conclusion of the Project Imperium evaluation. Richard (Dick) Lynch will succeed Mr. Chen as Board Chair and will also serve as Interim Chief Executive Officer while BlackBerry completes its search for a permanent CEO.

A sum of 3206889 shares traded at recent session while its average daily volume was at 6.29M shares. BlackBerry Ltd shares reached a high of $3.78 and dropped to a low of $3.58 until finishing in the latest session at $3.60.

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The one-year BB stock forecast points to a potential upside of 38.57. The average equity rating for BB stock is currently 2.55, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on BlackBerry Ltd [BB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BB shares is $5.86 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 2.55. 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.

CIBC have made an estimate for BlackBerry Ltd shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 18, 2023.

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The Average True Range (ATR) for BlackBerry Ltd is set at 0.18, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 2.55. The Price to Book ratio for the last quarter was 2.53, with the Price to Cash per share for the same quarter was set at 0.78.

BB Stock Performance Analysis:

BlackBerry Ltd [BB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.96. With this latest performance, BB shares gained by 0.28% in over the last four-week period, additionally sinking by -29.96% over the last 6 months – not to mention a drop of -24.53% 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 42.46, with the RSI for the last a single of trading hit 44.71, and the three-weeks RSI is set at 41.30 for BlackBerry Ltd [BB]. The present Moving Average for the last 50 days of trading for this stock 4.29, while it was recorded at 3.71 for the last single week of trading, and 4.50 for the last 200 days.

Insight into BlackBerry Ltd Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and BlackBerry Ltd [BB] shares currently have an operating margin of -34.15 and a Gross Margin at +49.24. BlackBerry Ltd’s Net Margin is presently recorded at -111.89.

Return on Total Capital for BB is now -13.07, given the latest momentum, and Return on Invested Capital for the company is -48.99. Return on Equity for this stock declined to -61.43, with Return on Assets sitting at -34.81. When it comes to the capital structure of this company, BlackBerry Ltd [BB] has a Total Debt to Total Equity ratio set at 51.69. Additionally, BB Total Debt to Total Capital is recorded at 34.08, with Total Debt to Total Assets ending up at 26.38. Long-Term Debt to Equity for the company is recorded at 6.07, with the Long-Term Debt to Total Capital now at 4.00.

Reflecting on the efficiency of the workforce at the company, BlackBerry Ltd [BB] managed to generate an average of -$303,208 per employee. Receivables Turnover for the company is 4.29 with a Total Asset Turnover recorded at a value of 0.31.BlackBerry Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

BlackBerry Ltd [BB] Institutonal Ownership Details

The top three institutional holders of BB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in BB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in BB stock with ownership which is approximately 5.7994%.

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