BlackBerry (NYSE:BB) Issues Q1 Earnings Guidance

BlackBerry (NYSE:BB) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $(0.06)-$(0.04) for the period, compared to the consensus EPS estimate of ($0.03). The company issued revenue guidance of $130-138 million, compared to the consensus revenue estimate of $149.08 million. BlackBerry also updated its FY 2025 guidance to -0.070–0.030 EPS.

BlackBerry Price Performance

Shares of BlackBerry stock traded up $0.01 on Wednesday, reaching $2.81. 10,550,255 shares of the company were exchanged, compared to its average volume of 9,562,382. BlackBerry has a 1-year low of $2.46 and a 1-year high of $5.75. The company has a market cap of $1.65 billion, a P/E ratio of -2.83 and a beta of 1.41. The stock’s 50 day moving average price is $2.77 and its 200-day moving average price is $3.44.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $173.00 million during the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative return on equity of 4.27% and a negative net margin of 68.47%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. On average, research analysts predict that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BB has been the subject of several analyst reports. Royal Bank of Canada cut their price target on BlackBerry from $4.00 to $3.00 and set a sector perform rating for the company in a research note on Wednesday, February 14th. Raymond James cut their price target on BlackBerry from $7.00 to $6.50 and set a market perform rating for the company in a research note on Thursday, December 21st. Canaccord Genuity Group cut their price target on BlackBerry from $5.00 to $4.25 and set a hold rating for the company in a research note on Thursday, December 21st. StockNews.com cut BlackBerry from a hold rating to a sell rating in a research note on Wednesday, February 21st. Finally, Robert W. Baird cut their price target on BlackBerry from $4.50 to $3.50 and set a neutral rating for the company in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $4.08.

Insider Buying and Selling at BlackBerry

In other BlackBerry news, Director Philip G. Brace purchased 35,000 shares of BlackBerry stock in a transaction dated Wednesday, February 14th. The shares were bought at an average cost of $2.79 per share, for a total transaction of $97,650.00. Following the transaction, the director now owns 35,000 shares in the company, valued at approximately $97,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Philip G. Brace bought 35,000 shares of the stock in a transaction on Wednesday, February 14th. The shares were purchased at an average price of $2.79 per share, with a total value of $97,650.00. Following the purchase, the director now owns 35,000 shares in the company, valued at $97,650. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steve Rai sold 20,047 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $3.25, for a total transaction of $65,152.75. Following the transaction, the chief financial officer now owns 84,599 shares of the company’s stock, valued at approximately $274,946.75. The disclosure for this sale can be found here. Insiders have sold 44,090 shares of company stock worth $142,812 in the last ninety days. 1.94% of the stock is owned by insiders.

Institutional Trading of BlackBerry

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. bought a new position in BlackBerry during the first quarter valued at approximately $96,000. Mitsubishi UFJ Trust & Banking Corp increased its position in BlackBerry by 62.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 12,876 shares of the company’s stock worth $95,000 after acquiring an additional 4,974 shares during the period. Private Advisor Group LLC bought a new position in BlackBerry during the first quarter worth $88,000. Atria Wealth Solutions Inc. bought a new position in BlackBerry during the first quarter worth $76,000. Finally, Quantbot Technologies LP bought a new position in BlackBerry during the second quarter worth $71,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.

About BlackBerry

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 CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.