BlackBerry Ltd [NYSE: BB] jumped around 0.02 points on Wednesday, while shares priced at $2.28 at the close of the session, up 0.88%.
Compared to the average trading volume of 7.97M shares, BB reached a trading volume of 2867126 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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What do top market gurus say about 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 $3.53 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 2.44. 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 Sector Outperform, with their previous recommendation back on June 27, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $4.50 to $4. The new note on the price target was released on December 21, 2023, representing the official price target for BlackBerry Ltd stock. Previously, the target price had yet another raise from $4.20 to $6.50, while CIBC kept a Neutral rating on BB stock.
The Average True Range (ATR) for BlackBerry Ltd is set at 0.09, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 0.39.
How has BB stock performed recently?
BlackBerry Ltd [BB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.72. With this latest performance, BB shares gained by 5.56% in over the last four-week period, additionally sinking by -12.98% over the last 6 months – not to mention a drop of -59.29% 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 44.93, with the RSI for the last a single of trading hit 43.10, and the three-weeks RSI is set at 45.18 for BlackBerry Ltd [BB]. The present Moving Average for the last 50 days of trading for this stock 2.36, while it was recorded at 2.31 for the last single week of trading, and 2.89 for the last 200 days.
BlackBerry Ltd [BB]: Deeper insight into the fundamentals
BlackBerry Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.43 and a Current Ratio set at 1.43.
Earnings analysis for BlackBerry Ltd [BB]
With the latest financial reports released by the company, BlackBerry Ltd posted -0.05/share EPS, while the average EPS was predicted by analysts to be reported at -0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.03. 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.
Insider trade positions for BlackBerry Ltd [BB]
There are presently around $48.55%, or 49.40%% of BB stock, in the hands of institutional investors. The top three institutional holders of BB stocks are: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN with ownership of 46.72 million shares, which is approximately 7.9218%. PRIMECAP MANAGEMENT CO/CA/, holding 33.33 million shares of the stock with an approximate value of $$82.66 million in BB stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $$71.62 million in BB stock with ownership which is approximately 4.8586%.
