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Should BlackBerry Limited (NYSE: BB) Investors Be Concerned?

The trading price of BlackBerry Limited (NYSE:BB) closed lower on Tuesday, May 23, closing at $5.28, -2.58% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $5.26 and $5.44. In examining the 52-week price action we see that the stock hit a 52-week high of $7.20 and a 52-week low of $3.17. Over the past month, the stock has gained 29.41% in value.

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BlackBerry Limited, whose market valuation is $3.09 billion at the time of this writing, is expected to release its quarterly earnings report Jun 21, 2023 – Jun 26, 2023. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.05 per share this quarter, however they have predicted annual earnings per share of -$0.07 for 2024 and $0.06 for 2025. It means analysts are expecting annual earnings per share growth of 61.10% this year and 185.70% next year.

Analysts have forecast the company to bring in revenue of $161.17 million for the current quarter, with the likely lows of $159.7 million and highs of $163 million. The average estimate suggests sales will likely down by -4.10% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $701.27 million. The company’s revenue is forecast to grow by 6.90% over what it did in 2024.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of BlackBerry Limited No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest BB has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned BB a recommendation rating is 11. Out of them, 9 rate it a Hold, while 1 recommend Buy, whereas 1 assign an Overweight rating. 0 analyst(s) have tagged BlackBerry Limited (BB) as Underweight, while 0 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

A quick review shows that BB’s price is currently 11.71% off the SMA20 and 20.89% off the SMA50. The RSI metric on the 14-day chart is currently showing 65.83, and weekly volatility stands at 3.70%. When measured over the past 30 days, the indicator reaches 4.28%. BlackBerry Limited (NYSE:BB)’s beta value is currently sitting at 1.53, while the Average True Range indicator is currently displaying 0.20. With analysts defining $4.00-$11.00 as the low and high price targets, we arrive at a consensus price target of $6.06 for the trailing 12-month period. The current price is about 24.24% off the estimated low and -108.33% off the forecast high, based on this estimate. Investors will be thrilled if BB’s share price rises to $5.50, which is the median consensus price. At that level, BB’s share price would be -4.17% below current price.

To see how BlackBerry Limited stock has been performing in comparison to its peers in the industry, here are the numbers: BB stock’s performance was -2.58% in the latest trading, and -10.36% in the past year, while Alphabet Inc. (GOOGL) has traded -1.99% on the day and positioned 12.54% higher than it was a year ago. Another comparable company Apple Inc. (AAPL) saw its stock close -1.52% lower in the most recent trading session but was up 24.69% in a year. Furthermore, Motorola Solutions Inc. (MSI) showed a decrease of -2.84% on the day while its price kept inclining at 35.74% over the past year. Also in last trading session, the S&P 500 Index has plunged -1.12%, while the Dow Jones Industrial also saw a negative session, down -0.69% on the day.

An evaluation of the daily trading volume of BlackBerry Limited (NYSE:BB) indicates that the 3-month average is 5.37 million. However, this figure has increased over the past 10 days to an average of 4.48 million.

Currently, records show that 581.46 million of the company’s shares remain outstanding. The insiders hold 11.20% of outstanding shares, whereas institutions hold 56.60%. However, since the stock’s price has seen 61.96% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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