5 Cybersecurity Stocks Under $20

4. BlackBerry Limited (NYSE:BB)

Number of Hedge Fund Holders: 17

Share Price as of October 3: $4.70

Next on our list of cybersecurity stocks under $20 is BlackBerry Limited (NYSE:BB), a Canadian firm providing intelligent security software and services to companies and governments worldwide. BlackBerry Limited (NYSE:BB) operates through three segments – Cybersecurity, IoT, and Licensing and Other. In Q2 2022, BlackBerry Limited (NYSE:BB)’s cybersecurity billings increased 15% sequentially to $102 million and grew 6% year-over-year during the first half of the fiscal year.

On September 28, Canaccord analyst T. Michael Walkley reiterated a Hold rating on BlackBerry Limited (NYSE:BB) but lowered the price target on the shares to $5 from $6. The analyst said while management has created a compelling long-term strategy and multiple parts of the business display improving growth trends, there needs to be more proof of execution before he revises his estimates and becomes more constructive on the shares.

According to Insider Monkey’s Q2 data, BlackBerry Limited (NYSE:BB) was part of 17 hedge fund portfolios, compared to 20 in the prior quarter. Prem Watsa’s Fairfax Financial Holdings is the largest stakeholder of the company, with 46.7 million shares worth about $252 million.