BlackBerry (BB) outpaces stock market gains: what you need to know
BLackBerry (BB) closed the last day of trading at $7.37, moving +1.38% from the previous trading session. This change outpaced the S&P 500’s 0.52% gain on the day. Meanwhile, the Dow lost 0.06% and the Nasdaq, a technology-heavy index, added 0.37%.
Today, shares of the cybersecurity software and services company had lost 17.2% over the past month, lagging the IT and technology sector’s 10.84% loss and of the 6.51% loss of the S&P 500 during this period.
BlackBerry will look to show its strength as it approaches its next earnings release. In this report, analysts expect BlackBerry to post earnings of -$0.03 per share. That would mark a 200% year-over-year decline.
Zacks Consensus estimates for BB’s full year call for earnings of -$0.13 per share and revenue of $726 million. These results would represent year-over-year variations of -172.22% and -21%, respectively.
Investors might also notice recent changes in analyst estimates for BlackBerry. These revisions generally reflect the latest short-term trading trends, which may change frequently. Thus, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.
Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven track record of outperformance, with #1 stocks returning an average of +25% per year since 1988. Over the past few months, the Zacks Consensus EPS estimate has remained stagnant. BlackBerry is currently a Zacks Rank #2 (Buy).
The Computing – Software industry is part of the Computing and Technology sector. This industry currently has a Zacks Industry Rank of 152, which places it in the bottom 41% of all 250+ industries.
The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Be sure to track all of these stock movement metrics, and more, at Zacks.com.
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BlackBerry Limited (BB): Free Stock Analysis Report
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