Analysts Issue Bear Notes Despite Blackberry's Revenue Beat

The stock has lost over 42% this year

Digital Content Manager
Jun 24, 2022 at 9:32 AM
facebook twitter linkedin

BlackBerry Ltd (NYSE:BB) stepped into the earnings confessional last night, reporting first-quarter losses of 5 cents per share, which fell in line with analysts' estimates, alongside better-than-expected revenue of $168 million. The company cited growth in its auto and cybersecurity units for its revenue beat. In response, BB is inching higher, last seen up 0.4% at $5.39. 

Despite the mostly upbeat results, BlackBerry stock was hit with two price-target cuts. TD Securities slashed its price objective to $5 from $6.50, while CIBC cut its estimate by $3 to $5. The 12-month consensus price target now sits at $6.25, which is a 16.4% premium to Thursday's close. Meanwhile, of the seven analysts in coverage, five say "hold," and two say "sell."

BlackBerry stock has lost 42.6% this year on its journey back toward penny stock territory. However, the $5 level has kept some of these losses in check, and today the stock could notch its second-straight close above the 10-day moving average, which has helped guide the equity lower over the past year. 



Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners