BlackBerry (NYSE:BB) Releases FY25 Earnings Guidance

BlackBerry (NYSE:BB) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $(0.07)-$(0.03) for the period, compared to the consensus estimate of ($0.06). The company issued revenue guidance of $586-616 million, compared to the consensus revenue estimate of $627.42 million. BlackBerry also updated its FY 2025 guidance to -0.070–0.030 EPS.

BlackBerry Trading Up 0.2 %

Shares of NYSE BB traded up $0.01 during midday trading on Wednesday, reaching $2.81. The company’s stock had a trading volume of 10,550,255 shares, compared to its average volume of 9,562,382. BlackBerry has a fifty-two week low of $2.46 and a fifty-two week high of $5.75. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -2.83 and a beta of 1.41. The stock has a 50 day simple moving average of $2.77 and a 200-day simple moving average of $3.44.

BlackBerry (NYSE:BB) last posted its quarterly earnings data 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. BlackBerry had a negative net margin of 68.47% and a negative return on equity of 4.27%. The company had revenue of $173.00 million for the quarter, compared to the consensus estimate of $150.47 million. During the same period last year, the company earned ($0.04) earnings per share. The firm’s revenue was up 14.6% compared to the same quarter last year. As a group, equities analysts anticipate that BlackBerry will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TD Securities lowered their target price on shares of BlackBerry from $4.00 to $3.75 and set a hold rating on the stock in a report on Thursday, December 21st. Robert W. Baird lowered their target price on shares of BlackBerry from $4.50 to $3.50 and set a neutral rating on the stock in a report on Wednesday, February 14th. StockNews.com downgraded shares of BlackBerry from a hold rating to a sell rating in a report on Wednesday, February 21st. CIBC lowered their target price on shares of BlackBerry from $4.25 to $3.50 and set a neutral rating on the stock in a report on Wednesday, February 14th. Finally, Raymond James lowered their target price on shares of BlackBerry from $7.00 to $6.50 and set a market perform rating on the stock in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, BlackBerry currently has a consensus rating of Hold and an average price target of $4.08.

Insider Activity

In related news, CEO John Joseph Giamatteo sold 18,279 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $3.23, for a total value of $59,041.17. Following the transaction, the chief executive officer now directly owns 206,090 shares in the company, valued at $665,670.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Steve Rai sold 20,047 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $3.25, for a total value of $65,152.75. Following the transaction, the chief financial officer now directly owns 84,599 shares in the company, valued at $274,946.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Joseph Giamatteo sold 18,279 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $3.23, for a total transaction of $59,041.17. Following the completion of the transaction, the chief executive officer now owns 206,090 shares in the company, valued at $665,670.70. The disclosure for this sale can be found here. Insiders have sold 44,090 shares of company stock valued at $142,812 over the last ninety days. 1.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackBerry

A number of large investors have recently bought and sold shares of BB. Norges Bank acquired a new stake in BlackBerry during the fourth quarter worth about $38,430,000. Legal & General Group Plc grew its stake in BlackBerry by 21.2% during the fourth quarter. Legal & General Group Plc now owns 23,417,371 shares of the company’s stock worth $83,468,000 after buying an additional 4,101,823 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of BlackBerry by 138.0% in the 1st quarter. Bank of America Corp DE now owns 2,545,157 shares of the company’s stock valued at $18,987,000 after purchasing an additional 1,475,870 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of BlackBerry by 171.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,266,443 shares of the company’s stock valued at $10,335,000 after purchasing an additional 1,432,900 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of BlackBerry by 98.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,595,103 shares of the company’s stock valued at $11,837,000 after purchasing an additional 1,289,346 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

BlackBerry Company Profile

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.