BlackBerry (NYSE:BB) Releases Q3 Earnings Guidance

BlackBerry (NYSE:BB) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $(0.01)-$0.01 for the period, compared to the consensus 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.

BlackBerry Trading Up 6.5 %

BlackBerry stock traded up $0.15 during midday trading on Thursday, reaching $2.55. The stock had a trading volume of 19,197,245 shares, compared to its average volume of 8,951,357. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -8.78 and a beta of 1.39. The company has a fifty day moving average of $2.35 and a 200 day moving average of $2.60. BlackBerry has a 52-week low of $2.01 and a 52-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.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The company had revenue of $144.00 million for the quarter, compared to the consensus estimate of $132.05 million. During the same period last year, the business posted $0.04 EPS. BlackBerry’s quarterly revenue was down 61.4% on a year-over-year basis. On average, analysts anticipate that BlackBerry will post -0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BB. Royal Bank of Canada reissued a sector perform rating and set a $3.00 price objective on shares of BlackBerry 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 on the stock in a report on Thursday, June 27th. Cibc World Mkts raised BlackBerry from a hold rating to a strong-buy rating in a report on Thursday, June 27th. Robert W. Baird dropped their target price on BlackBerry from $3.50 to $3.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. Finally, Raymond James decreased their price objective on shares of BlackBerry from $5.50 to $4.75 and set a market perform rating for the company in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BlackBerry presently has a consensus rating of Hold and an average target price of $3.20.

Insider Activity

In other news, insider Mattias Eriksson sold 52,549 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $2.45, for a total value of $128,745.05. Following the completion of the sale, the insider now directly owns 214,440 shares in the company, valued at $525,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.34% of the company’s stock.

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.