Yahoo Finance Blackberry (BB) Expands SecuSUITE Partners Across Asia Pacific
Blackberry Limited BB has announced the expansion of its BlackBerry SecuSUITE partner network in the Asia Pacific (APAC) by adding three new highly-specialized companies.
The company has partnered with NSI Global, Praesidum Group and Teletrol-One to expand its footprint in the APAC region. The expansion will assist businesses and governments in more efficiently securing mobile communications and safeguarding people and operations.
The SecuSUITE technology shields governments around the world against threats to communications relating to national security as well as companies’ confidential conversations. It is a secure application which uses off-the-shelf iOS, Android or Windows devices and can be rolled out to existing devices, removing the need to carry additional devices.
BlackBerry Limited Price and Consensus
BlackBerry Limited price-consensus-chart | BlackBerry Limited Quote
The platform uses end-to-end encryption to safeguard individual and group voice calls, texts, file transfers and group chats across global networks. SecuSUITE also ensures that all calls made to domestic phone numbers from international networks are secure.
Per a report from MarketsAndMarkets, the global cyber security market size is predicted to grow from an estimated value of $173.5 billion in 2022 to $266.2 billion by 2027, registering a CAGR of 8.9%. The industry is expected to benefit from increasing cybersecurity attacks and data breaches, added the report. This bodes well for Blackberry, which provides intelligent security software and services to enterprises and governments worldwide.
Recently BlackBerry's SecuSUITE for Government was recently awarded security accreditation by NATO for international use in NATO secure communications.
For fiscal 2023, BlackBerry expects IoT revenues in the range of $200-$210 million, indicating 12-18% growth year over year. Cyber business billings growth is expected within 8-12% due to increased uptake of security products.
For the fiscal second quarter of 2023 (ended Aug 31, 2022), the company reported an adjusted loss per share of 5 cents compared with the prior-year quarter’s loss of 6 cents per share. The Zacks Consensus Estimate is pegged at a loss of 7 cents per share. Quarterly total revenues declined 4% year over year to $168 million.
In cyber security, the company witnessed solid traction within government and financial services verticals. The continued momentum in BlackBerry’s Cylance product portfolio bodes well for the segment. The segment also delivered double-digit sequential billings growth.
BlackBerry currently has a Zacks Rank #3 (Hold). Shares of the company have lost 55% in the past year compared with the industry’s decline of 31.2%.
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Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks ANET, Pure Storage PSTG and Jabil JBL. Jabil and Arista Networks currently sport a Zacks Rank #1 (Strong Buy), whereas Pure Storage currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.35 per share, up 7.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have decreased 1% in the past year.
The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have increased 10% in the past year.
The Zacks Consensus Estimate for Jabil’s fiscal 2023 earnings is pegged at $8.18 per share, rising 3.8 in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 9.3%. Shares of JBL have increased 4% in the past year.
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