BlackBerry Ltd (NYSE:BB) price on current trading day, rose 2.85% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $5.05.
A look at the stock’s price movement, the close in the last trading session was $4.91. Turning to its 52-week performance, $6.24 and $2.01 were the 52-week high and 52-week low respectively. Overall, BB moved 23.47% over the past month.
BlackBerry Ltd’s market cap currently stands at around $2.99 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 137.56M for the company’s revenue for the quarter, with a low and high estimate of 131.62M and 151M respectively. The average forecast suggests down to a -20.49% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 554.17M, representing a -35.03% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BB is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
20 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 12 recommend BB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BB’s current price about -2.80% and 16.09% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 51.50, while 7-day volatility ratio is 9.12% and 7.37% in the 30-day chart. Further, BlackBerry Ltd (BB) has a beta value of 1.27, and an average true range (ATR) of 0.37. Analysts have given the company’s stock an average 52-week price target of $2.8, forecast between a low of $2.8 and high of $2.8. Looking at the price targets, the low is 44.55% off current price level while to achieve the yearly target high, price needs to move 44.55%. Nonetheless, investors will most likely welcome a 44.55% jump to $2.8 which is the analysts’ median price.
If we refocus on BlackBerry Ltd (NYSE:BB), historical trading data shows that trading volumes averaged 22.33 million over the past 3 months. The company’s latest data on shares outstanding shows there are 591.58 million shares.
The 1.76% of BlackBerry Ltd’s shares are in the hands of company insiders while institutional holders own 46.76% of the company’s shares. Current price change has pushed the stock 33.60% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BB stock continues to rise going into the next quarter.
