BlackBerry Limited ($BB) Stock Forecast: Up 11.3% Today

What is BlackBerry Limited?

BlackBerry (NYSE: BB) is a cybersecurity company that offers cybersecurity and data protection services to enterprises and governments. The stock experienced significant growth today following the announcement of better-than-expected Q1 revenues.

Why is BlackBerry Limited going up?

BB stock is up 11.3% on Jun 27, 2024 18:16

• BlackBerry's stock price rose after revealing stronger Q1 revenues, illustrating a solid demand for cybersecurity services in the face of growing online threats.
• The company's quarterly revenue of $144 million exceeded analysts' average forecast of $134.1 million, indicating a positive growth trend.
• Despite a reduction in stock price target by Baird, BlackBerry's ability to surpass revenue expectations and manage losses has boosted investor confidence, resulting in a positive market trend.
• The uptick in cybersecurity spending by organizations and government entities to address prominent data breaches and malware attacks has increased the need for companies like BlackBerry, contributing to its favorable market performance.

BB Price Chart

BB News

BB Earnings: BlackBerry Rises on Better-than-Expected Q1 Revenues

BlackBerry (NYSE:BB) surged in trading on Thursday after announcing better-than-expected Q1 revenues. The cybersecurity company’s Q1 revenues plung…

https://www.tipranks.com/news/bb-earnings-blackberry-rises-on-better-than-expected-q1-revenues

BlackBerry beats estimate for Q1 revenue

CANADA''S BlackBerry beat first-quarter revenue estimates on Wednesday, driven by a resilient demand for cybersecurity services in the wake of growing online threats. US-listed shares of the company, which provides cybersecurity and data protection services to enterprises and governments, rose 7.2 percent after the bell. Over the past few months, companies such as the car industry technology provider CDK, UnitedHealth Group''s Change Health care unit and Live Nation Entertainment''s Ticketmaster unit faced large-scale data breaches. Despite the wider slowdown in tech-spending, high-profile hacks are forcing companies and government agencies to amp up their cybersecurity spending to safeguard their data against hackers and malware, boosting demand for cybersecurity firms such as BlackBerry. The Waterloo-based company''s quarterly revenue stood at $144 million, beating analysts'' average estimate of $134.1 million, according to LSEG data. The company reported an adjusted net loss of 3 cents per share for the quarter ended May 31, compared with analysts'' average estimate of a loss of 4 cents.

https://www.manilatimes.net/2024/06/28/business/foreign-business/blackberry-beats-estimate-for-q1-revenue/1953762

Cybersecurity Stocks in Play - BlackBerry Limited ( NYSE: BB ) ( TSX: BB ) Stock Spikes - Exceeds quarterly revenue guidance for both IoT and Cybersecurity

Cybersecurity Stocks in Play - BlackBerry Limited ( NYSE: BB ) ( TSX: BB ) Stock Spikes - Exceeds quarterly revenue ... ...

https://www.investorideas.com/news/2024/defense/06271BlackBerry-BB.asp

Baird cuts BlackBerry stock PT to $3 from $3.50, ''remain patient''

https://www.investing.com/news/company-news/baird-cuts-blackberry-stock-pt-to-3-from-350-remain-patient-93CH-3499521

https://www.investing.com/news/company-news/baird-cuts-blackberry-stock-pt-to-3-from-350-remain-patient-93CH-3499521

BlackBerry ( BB ) Q1 Earnings Beat Estimates, Revenues Down Y/Y

BlackBerry's (BB) fiscal first-quarter top and bottom-line numbers exceed management's guidance.

https://www.zacks.com/stock/news/2294401/blackberry-bb-q1-earnings-beat-estimates-revenues-down-yy

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BlackBerry Limited Price History

27.05.2024 - BB Stock was up 12.3%

• A recent price target cut may have caused some initial uncertainty, but investors appear to have focused on the positive aspects of the latest earnings report.
• Despite a net loss for Q1 2025, BlackBerry's earnings surpassed expectations, leading to increased investor confidence in the company's future.
• The strong performance of BlackBerry's Cybersecurity segment, which exceeded projected figures and boasted a strong gross margin, likely played a role in the stock's upward trend.
• Improved market sentiment towards cybersecurity firms, possibly influenced by recent data breaches at other companies, could be driving the positive movement of BlackBerry's stock.

27.05.2024 - BB Stock was up 11.7%

• First-quarter revenues for BlackBerry totaled $144 million, exceeding the anticipated $134.052 million, primarily due to robust performance in its Cybersecurity division.
• BlackBerry's earnings per share (EPS) stood at -3 cents, outperforming the projected -4 cents, signaling improved financial results.
• Investors reacted favorably to the earnings surpass, demonstrating confidence in BlackBerry's capacity to deliver amidst challenges in the cybersecurity sector.
• Recent data breaches in companies such as CDK, UnitedHealth Group, and Live Nation Entertainment may underscore the significance of cybersecurity solutions, potentially further enhancing BlackBerry's stock performance.

14.05.2024 - BB Stock was up 12.2%

• BlackBerry (BB) stock experienced a significant decline, possibly due to its association with meme stocks like GameStop and AMC Entertainment losing momentum.
• The overall weakness in software stocks, including disappointing financial results from companies like Salesforce and Okta, may have contributed to BlackBerry's decline.
• Negative sentiment towards BlackBerry on CNBC's "Mad Money Lightning Round" could have further dampened investor confidence in the stock.
• The anticipation of Apple's AI reveal at the Worldwide Developer Conference might have shifted investor focus towards tech giants like Amazon, Microsoft, Alphabet, and Nvidia, leading to a relative neglect of BlackBerry in the market.

13.05.2024 - BB Stock was up 5.2%

• BlackBerry's stock price dropped notably today, potentially affected by the broader weakness seen in the software sector.
• The prevailing negative outlook towards software stocks, driven in part by unsatisfactory financial performances from leading companies like Salesforce and Okta, may have contributed to the downward trend in BB.
• Concerns raised by Jim Cramer regarding BlackBerry and its business performance could have intensified the selling pressure on the stock.
• Investors' attention is currently focused on prominent tech firms heavily involved in AI such as Amazon, Microsoft, Alphabet, and Nvidia. BlackBerry's perceived lack of substantial advancements in this field likely led to diminished investor attraction toward the stock.

12.05.2024 - BB Stock was up 5.3%

• The bullish movement in BlackBerry's stock could be attributed to the overall positive sentiment in the market, with the Dow gaining 0.2% and BlackBerry outperforming the S&P 500's marginal loss.
• Mentioning BlackBerry's rise amidst a market dip could have instilled confidence in investors, leading to increased buying activity and driving the stock price higher.
• Additionally, the anticipation surrounding Apple's upcoming announcement at the WWDC, particularly in the AI space, might have positively influenced tech stocks like BlackBerry, as investors speculate on potential collaborations or advancements in the industry.
• Overall, the combination of market dynamics, positive news sentiment, and sector-wide developments could have contributed to BlackBerry's bullish movement today.

07.05.2024 - BB Stock was up 2.9%

• BlackBerry (BB) stock decreased by 1% during the bearish market.
• The downswing in meme stocks, including BlackBerry, was influenced by disappointing Q1 earnings from GameStop, falling short of revenue expectations and reporting a loss.
• Speculation revolving around Roaring Kitty's livestream and the general instability in meme stocks added to the downward pressure on BlackBerry.
• Despite seeing a slight increase in BlackBerry’s stock the day before, the negative outlook on meme stocks, due to GameStop's performance, resulted in the drop in BlackBerry's stock today.

06.05.2024 - BB Stock was up 5.8%

• The upswing in BB stock could be linked to positive sentiments surrounding the company despite ongoing legal troubles involving the CEO and an active court case.
• The resurgence of meme stock trading and mentions of Roaring Kitty and GameStop may have fueled increased attention on BB as a potential meme stock candidate.
• While cautions have been issued against meme stock investments and the possibility of a market correction, investors appear to be showing interest in BB, potentially influenced by the thrill and speculative aspects of meme stock trading.
• The notable volatility and risks tied to penny stocks could be influencing the sharp movements in BB stock, attracting both opportunistic traders and cautious investors seeking rapid profits.

03.05.2024 - BB Stock was up 5.0%

• GameStop stock experienced a notable surge following a revelation by a prominent meme trader, Keith Gill, about a significant stake in the company, generating enthusiasm among retail investors and driving the stock price up.
• Speculation surrounding a substantial investment by an individual known as Roaring Kitty in GameStop resulted in a noteworthy increase in the stock's value during premarket trading, underscoring sustained interest and volatility in meme-driven stocks.
• The dim prospects for MicroCloud Hologram (HOLO) stock, marked by diminishing revenue and a lack of growth potential, likely contributed to a cautious sentiment within the tech sector, which had a negative impact on BlackBerry's stock performance.
• Despite BlackBerry's recent success at the Canadian Screen Awards, winning multiple accolades, the stock price today was predominantly influenced by the fervor surrounding meme stocks and concerns within the tech industry, rather than the company's award achievements.

29.04.2024 - BB Stock was up 5.5%

• BB experienced a bearish movement today, aligning with the general trend of meme stocks like GME and AMC.
• The bearish movement could be linked to the settling down of the trading frenzy that initially boosted meme stocks last week.
• The announcement of GameStop's significant stock sale could have shifted attention and investment away from other meme stocks like BB, leading to the bearish movement.
• The fleeting nature of meme stock rallies, as highlighted by market experts, might have influenced investors to exercise caution, resulting in the decline of BB's stock price.

16.04.2024 - BB Stock was up 5.3%

• The meme stock rally lost momentum, leading to a sharp decline in shares favored by retail traders like BlackBerry.
• Despite the fall, BlackBerry shares are still up more than 10% for the week, indicating ongoing volatility.
• The resurgence of meme-stock craze impacted BlackBerry shares, while news of short squeeze alerts for AMC stock added to market uncertainty.
• Overall, market interest surged, driven by meme stocks like GameStop and AMC, influencing the bearish movement in BlackBerry stock.

15.04.2024 - BB Stock was up 5.6%

• BlackBerry shares saw a bearish trend amidst ongoing volatility following heightened interest from retail investors earlier in the week.
• The resurgence of the meme-stock trend initially boosted prices but may have triggered profit-taking and a subsequent decline.
• Market sentiment towards meme stocks like BlackBerry and GameStop has been impacted by speculative trading and short squeeze alerts, influencing their price actions.
• Despite today's bearish movement, BlackBerry shares have gained over 10% this week, suggesting sustained market interest and potential for continued volatility.

15.04.2024 - BB Stock was up 7.1%

• BlackBerry shares declined amid the recent surge of meme-stock activity, leading to market volatility.
• Heightened interest in meme stocks like GameStop and AMC Entertainment, along with a short squeeze alert for AMC stock, likely shifted focus and investments away from BlackBerry.
• Negative market sentiment towards tech stocks, exemplified by Alibaba's ADRs dropping due to investment losses in reported earnings, may have influenced BlackBerry's market performance.
• The possibility of a significant short squeeze in Faraday Future (FFIE) stock drew attention away from BlackBerry as meme traders seek new opportunities, further impacting BlackBerry's stock performance negatively.