BlackBerry (NYSE:BB) Releases Q3 Earnings Guidance

BlackBerry (NYSE:BB) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $(0.01)-$0.01 for the period, compared to the consensus earnings per share estimate of ($0.01). The company issued revenue guidance of $146-154 million, compared to the consensus revenue estimate of $149.98 million. BlackBerry also updated its FY 2025 guidance to -0.050–0.020 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Canaccord Genuity Group decreased their target price on BlackBerry from $3.25 to $2.70 and set a hold rating for the company in a report on Thursday, June 27th. CIBC raised BlackBerry from a neutral rating to a sector outperform rating and set a $3.50 price objective for the company in a research report on Thursday, June 27th. Cibc World Mkts upgraded shares of BlackBerry from a hold rating to a strong-buy rating in a research note on Thursday, June 27th. Royal Bank of Canada reiterated a sector perform rating and issued a $3.00 price target on shares of BlackBerry in a research note on Thursday, June 27th. Finally, Robert W. Baird dropped their price objective on shares of BlackBerry from $3.50 to $3.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $3.20.

BlackBerry Stock Up 6.5 %

BB traded up $0.15 on Thursday, reaching $2.55. The company’s stock had a trading volume of 19,197,245 shares, compared to its average volume of 8,951,357. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -8.78 and a beta of 1.39. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $4.94. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $2.35 and a two-hundred day moving average of $2.60.

BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The business had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $132.05 million. During the same quarter in the prior year, the business posted $0.04 EPS. The company’s revenue for the quarter was down 61.4% on a year-over-year basis. As a group, analysts forecast that BlackBerry will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling at BlackBerry

In related news, insider Mattias Eriksson sold 52,549 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $2.45, for a total transaction of $128,745.05. Following the transaction, the insider now owns 214,440 shares in the company, valued at approximately $525,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by insiders.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.