Trending Stocks Ticker by Stock Target Advisor
Capital Investment Counsel Inc has reduced its stake in BlackBerry Limited (NYE:BB) by 37.1% during the 4th quarter, selling 36,475 shares and leaving it with 61,790 shares valued at $201,000. Other institutional investors, including Connor Clark & Lunn Investment Management Ltd. and Vanguard Group Inc., have also adjusted their positions in BB. BlackBerry Limited is a Canadian software company that provides cybersecurity and enterprise software solutions to enterprise customers, governments, and the automotive industry. On March 31st, BlackBerry Limited reported an earnings per share of ($0.02), beating the estimate of ($0.07) by $0.05, with revenue for the quarter at $151.00 million. The company’s stock opened at $4.38 on Thursday with average price of $3.93.
Outlook for BlackBerry Limited
The recent changes in institutional investors’ stakes in BlackBerry Limited reflect differing opinions on the company’s prospects. Some investors, like Capital Investment Counsel Inc., have decreased their holdings, while others, such as Connor Clark & Lunn Investment Management Ltd. and Bank of America Corp DE, have increased their positions.
BlackBerry Limited has been shifting its focus from hardware to software and services, particularly in the areas of cybersecurity and enterprise software solutions. The company has recently made strategic acquisitions, such as Cylance, to bolster its capabilities in these areas.
Overall, the outlook for BlackBerry Limited remains uncertain. Its success will depend on its ability to continue evolving and innovating in a rapidly changing industry, while also fending off competition.
BlackBerry Stock Analysis & Forecast
According to the forecasts of 10 analysts, the average target price for BlackBerry Ltd in the next 12 months is USD 4.89, and the average rating given by these analysts is Buy. However, according to the analysis of Stock Target Advisor, which takes into account 2 positive signals and 7 negative signals, the outlook for the stock is Bearish. At the time of the last closing, the stock price of BlackBerry Ltd was USD 4.49, which is a decrease of 1.32% over the past week, an increase of 25.42% over the past month, and a decrease of 34.45% over the last year.
Business profile
BlackBerry Limited is a global provider of intelligent security software and services to government and enterprise clients. The company operates in three segments: Cybersecurity, IoT, and Licensing and Other. Its products include endpoint protection platforms, managed detection and response solutions. BlackBerry Limited is headquartered in Waterloo, Canada, and was founded in 1984 as Research In Motion Limited.
