BlackBerry Limited ($BB) Stock Forecast: Up 23.2% Today

What is BlackBerry Limited?

BlackBerry (NYSE: BB) is a technology company known for its focus on cybersecurity and secure communications. The company has been transitioning its business model towards IoT and software services.

Why is BlackBerry Limited going up?

BB stock is up 23.2% on Dec 20, 2024 20:51

• BlackBerry reported third-quarter earnings that exceeded expectations, with adjusted EPS beating analyst estimates, leading to a bullish movement in the stock.
• Despite missing revenue estimates, the market reacted positively to BlackBerry's strong earnings and the announcement of divesting its Cylance asset to Arctic Wolf for $160 million, resulting in a 15% surge in the stock price.
• The company's strategic focus on IoT and secure communications, despite valuation concerns, has resonated well with investors, driving the stock higher.
• The soft revenue guidance and year-over-year revenue decline were overshadowed by the positive earnings results and the promising prospects of the company's growth in key areas, fueling investor optimism and driving the bullish movement in BlackBerry's stock.

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BB Technical Analysis

BB News

BlackBerry Growth Hinge On IoT, Secure Communications Despite Valuation Concerns: Analyst - BlackBerry ( NYSE:BB )

BlackBerry Ltd BB stock surged upwards on Friday. The company reported third-quarter results after the market closed on Thursday. BlackBerry reported quarterly revenue of $143.00 million, missing the analyst consensus estimate of $161.49 million. The adjusted EPS was $0.02, beating analyst ...

https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42627181/blackberry-growth-hinge-on-iot-secure-communications-despite-valuation-concerns-ana

BlackBerry's Q3 Earnings Top Estimates, Revenues Down Y/Y, Stock Rises

BB's fiscal third-quarter earnings surpass guidance. Revenues decline year over year due to tough comparisons.

https://www.zacks.com/stock/news/2386217/blackberrys-q3-earnings-top-estimates-revenues-down-yy-stock-rises

FedEx, Nike And 3 Stocks To Watch Heading Into Friday - BlackBerry ( NYSE:BB ) , Carnival ( NYSE:CCL )

With U.S. stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Carnival Corporation & Plc. CCL to report quarterly earnings at 8 cents per share on revenue of $5.93 billion before the opening bell, according ...

https://www.benzinga.com/24/12/42609582/fedex-nike-and-3-stocks-to-watch-heading-into-friday

BlackBerry Beats Q3 Earnings Estimates, But Soft Guidance Keeps Shares In Check - BlackBerry ( NYSE:BB )

BlackBerry Ltd BB reported third-quarter financial results after the market close on Thursday. Here's a look at the key metrics from the quarter. Q3 Earnings: BlackBerry reported third-quarter revenue of $162 million.

https://www.benzinga.com/news/earnings/24/12/42606549/blackberry-beats-q3-earnings-estimates-but-soft-guidance-keeps-shares-in-check

BlackBerry to Divest Cylance Asset to Arctic Wolf, Stock Soars 15%

Arctic Wolf will acquire BB's Cylance tool for $160 million in cash and equity, integrating Cylance's capabilities into its AI-driven open XDR Aurora platform.

https://www.zacks.com/stock/news/2384433/blackberry-to-divest-cylance-asset-to-arctic-wolf-stock-soars-15

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BlackBerry Limited Price History

16.11.2024 - BB Stock was up 6.8%

• The positive movement in BlackBerry's stock today is possibly linked to the market's optimism concerning strong third-quarter earnings projected to stem from increased royalty revenues.
• Despite some worry over a decline in development seat revenues, investors maintain a positive outlook on the company's overall performance.
• The collaboration announcement with TTTech Auto to tackle challenges in automotive software development may have further fueled positive sentiments around BlackBerry, highlighting potential for growth and innovation in the sector.
• The minor premarket decline subsequent to the partnership disclosure could reflect a brief market response, overshadowed by the broader positive outlook on BlackBerry's future prospects.

10.11.2024 - BB Stock was up 8.0%

• The collaboration with TTTech Auto to develop solutions for safer and smarter cars could have generated positive investor sentiment, leading to increased buying activity and driving the stock price higher.
• The overall bullish sentiment in meme stocks, such as AMC Entertainment Holdings Inc (NYSE: AMC), might have spilled over to BB, attracting retail investors and contributing to the stock's upward momentum.
• The focus on innovative solutions in the automotive industry and the broader market trend towards technology-driven advancements may have also played a role in boosting BB's performance today.

11.10.2024 - BB Stock was up 5.8%

• The recent collaboration between BlackBerry and Hyundai Mobis for enhancing its upcoming digital cockpit platform may have contributed to the positive market movement.
• The strong performance of BlackBerry compared to the overall market suggests growing confidence from investors in the company's future growth.
• BlackBerry's stock closing at $2.31 in the latest trading session reflects a high level of investor trust in the company's recent advances and future possibilities.

25.10.2024 - BB Stock was up 5.5%

• BlackBerry AtHoc, a crucial event management solution, is on the verge of attaining FedRAMP High Authorization. This achievement indicates an enhancement in cybersecurity capabilities and compliance standards, likely contributing to investor confidence in the stock.
• Despite a marginal decline in the stock price amidst a broader market upswing, the favorable updates on BlackBerry's cybersecurity progress could have eclipsed short-term market fluctuations, driving the bullish trend.
• The anticipated authorization of BlackBerry AtHoc underscores the company's dedication to strengthening its cybersecurity products, potentially appealing to investors interested in exposure to the growing significance of cybersecurity in the modern digital environment.

04.11.2024 - BB Stock was up 5.2%

• Despite the overall market rise, BlackBerry (BB) stock slid slightly by -0.39%.
• The mention of Litecoin potentially pulling an XRP move in the crypto market could have diverted some attention away from traditional stocks like BlackBerry.
• The decline in large transactions for Cardano (ADA) might have shifted investor focus towards other cryptocurrencies, impacting BlackBerry's performance.
• Overall, BlackBerry's minor decline could be attributed to a combination of internal factors within the company and external market influences.

27.10.2024 - BB Stock was up 5.3%

• BlackBerry (BB) stock remained flat at $2.57 despite a bullish market movement, indicating stability in the face of overall market gains.
• News about BlackBerry AtHoc nearing key authorization for federal cybersecurity and compliance may have positively impacted investor confidence in the company's growth potential and market positioning.
• The anticipation of becoming the first critical event management solution to achieve FedRAMP High Authorization highlights BlackBerry's commitment to expanding its presence in the cybersecurity sector, potentially influencing the stock's bullish movement.

12.10.2024 - BB Stock was up 1.7%

• The launch of BounceBit's CeDeFi V2 platform with multi-chain support and enhanced features could have generated positive sentiment in the cryptocurrency market, indirectly benefiting BlackBerry as a tech company.
• The news about BlackBerry being chosen by Hyundai Mobis to power its next-gen digital cockpit platform might have showcased the company's technological capabilities, attracting investors' interest and contributing to the bullish movement.
• Overall, the positive developments in the tech industry, along with BlackBerry's specific advancements in partnerships and product offerings, likely fueled investor optimism and drove the stock's upward trajectory today.

17.11.2024 - BB Stock was up 5.2%

• Investor confidence in BlackBerry has been heightened by the $160 million divestment of the Cylance asset to Arctic Wolf, resulting in a 15% increase in the stock price.
• Anticipation surrounding the forthcoming Q3 earnings report, indicating a rise in royalties' revenues, is likely contributing to the positive market outlook on BlackBerry.
• While the overall market showed an upward trend, BlackBerry's stock saw a minor decrease, potentially reflecting concerns about declining development seat revenues. Nevertheless, this decline was outweighed by the positive impact of the asset divestment, leading to the upbeat movement in the stock price.

09.11.2024 - BB Stock was up 5.5%

• BB stock exhibited strong bullish movement today, contrasting with a slight decline previously reported.
• The surge in meme stocks, including BB, has caught the attention of retail investors, with a notable increase in stock value.
• Recent activity from Keith Gill, also known as "Roaring Kitty," has likely fueled the interest in meme stocks, like BB.
• Despite market fluctuations, BB has managed to capture investors' interest and display a significant bullish trajectory.

20.11.2024 - BB Stock was up 13.6%

• Blackberry surpassed Q3 earnings expectations but offered conservative future guidance, leading to subdued investor excitement.
• The sale of its Cylance asset to Arctic Wolf for $160 million in cash and equity drove the stock price up by 15%.
• Although concerns arose about declining development seat revenues, BlackBerry's third-quarter performance likely benefited from increased royalties revenue.
• Today's positive movement in BlackBerry's stock can be attributed to strong earnings, strategic asset sale, and market confidence in the company's software-oriented approach.

20.11.2024 - BB Stock was up 21.4%

• In Q3, BlackBerry exceeded earnings projections, demonstrating resilience despite a decline in year-over-year revenues attributed to challenging comparisons.
• The decision to sell its Cylance asset to Arctic Wolf for $160 million in cash and equity bolstered investor confidence and contributed to the stock's rise.
• Although the earnings report was strong, conservative future guidance tempered the stock's growth, suggesting investor apprehension.
• Overall, the blend of robust earnings, strategic asset divestment, and cautious guidance likely drove the positive stock movement for BlackBerry today.

20.11.2024 - BB Stock was up 23.2%

• BlackBerry reported third-quarter earnings that exceeded expectations, with adjusted EPS beating analyst estimates, leading to a bullish movement in the stock.
• Despite missing revenue estimates, the market reacted positively to BlackBerry's strong earnings and the announcement of divesting its Cylance asset to Arctic Wolf for $160 million, resulting in a 15% surge in the stock price.
• The company's strategic focus on IoT and secure communications, despite valuation concerns, has resonated well with investors, driving the stock higher.
• The soft revenue guidance and year-over-year revenue decline were overshadowed by the positive earnings results and the promising prospects of the company's growth in key areas, fueling investor optimism and driving the bullish movement in BlackBerry's stock.