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

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In the latest trading session, BlackBerry (BB) closed at $4.65, marking a +1.31% move from the previous day. The stock lagged the S&P 500’s daily gain of 1.36%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 0.09%.

Coming into today, shares of the cybersecurity software and services company had gained 3.85% in the past month. In that same time, the Computer and Technology sector gained 2.84%, while the S&P 500 gained 5.44%.

Wall Street will be looking for positivity from BlackBerry as it approaches its next earnings report date.

BB’s full-year Zacks Consensus Estimates are calling for earnings of -$0.22 per share and revenue of $688 million. These results would represent year-over-year changes of -120% and -4.18%, respectively.

It is also important to note the recent changes to analyst estimates for BlackBerry. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BlackBerry is currently sporting a Zacks Rank of #3 (Hold).

The Computer – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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