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BlackBerry (BB) Gains But Lags Market: What You Should Know

BlackBerry (BB) closed at $4.44 in the latest trading session, marking a +0.68% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.

Heading into today, shares of the cybersecurity software and services company had gained 27.46% over the past month, outpacing the Computer and Technology sector's gain of 14.37% and the S&P 500's gain of 5.64% in that time.

BlackBerry will be looking to display strength as it nears its next earnings release. On that day, BlackBerry is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 800%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $172.28 million, down 6.88% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $677.14 million, which would represent changes of -110% and -5.69%, respectively, from the prior year.

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Investors should also note any recent changes to analyst estimates for BlackBerry. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BlackBerry is holding a Zacks Rank of #2 (Buy) right now.

The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow BB in the coming trading sessions, be sure to utilize Zacks.com.

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