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Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

BlackBerry (BB) Gains As Market Dips: What You Should Know

Zacks Equity Research

BlackBerry (BB) closed at $5.35 in the latest trading session, marking a +1.13% move from the prior day. This change outpaced the S&P 500's 0.06% loss on the day. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.24%.

Prior to today's trading, shares of the cybersecurity software and services company had gained 1.54% over the past month. This has lagged the Computer and Technology sector's gain of 6.28% and the S&P 500's gain of 4.72% in that time.

Investors will be hoping for strength from BB as it approaches its next earnings release. On that day, BB is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 66.67%.

BB's full-year Zacks Consensus Estimates are calling for earnings of $0.05 per share and revenue of $1.10 billion. These results would represent year-over-year changes of -79.17% and +19.65%, respectively.

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Investors might also notice recent changes to analyst estimates for BB. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BB is currently a Zacks Rank #3 (Hold).

Looking at its valuation, BB is holding a Forward P/E ratio of 99.19. For comparison, its industry has an average Forward P/E of 14.63, which means BB is trading at a premium to the group.

The Wireless Non-US industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 28, putting it in the top 11% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow BB in the coming trading sessions, be sure to utilize Zacks.com.


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Zacks Investment Research