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BlackBerry (BB) Stock Sinks As Market Gains: What You Should Know

The latest trading session saw BlackBerry (BB) ending at $2.29, denoting a -0.43% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.03%.

The cybersecurity software and services company's shares have seen a decrease of 23.59% over the last month, not keeping up with the Computer and Technology sector's gain of 8.7% and the S&P 500's gain of 3.34%.

The investment community will be paying close attention to the earnings performance of BlackBerry in its upcoming release. The company is slated to reveal its earnings on June 26, 2024. The company is expected to report EPS of -$0.04, down 166.67% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.03 per share and a revenue of $615 million, indicating changes of -160% and -27.9%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for BlackBerry. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. BlackBerry is holding a Zacks Rank of #3 (Hold) right now.

The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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BlackBerry Limited (BB) : Free Stock Analysis Report

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Zacks Investment Research