In the latest trading session, BlackBerry (BB) closed at $4.75, marking a +1.71% move from the previous day. This change outpaced the S&P 500's 0.37% gain on the day. Meanwhile, the Dow gained 0.48%, and the Nasdaq, a tech-heavy index, added 0.65%.
The cybersecurity software and services company's stock has climbed by 0.43% in the past month, falling short of the Computer and Technology sector's gain of 2.98% and the S&P 500's gain of 0.95%.
Investors will be eagerly watching for the performance of BlackBerry in its upcoming earnings disclosure. On that day, BlackBerry is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 100%.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.14 per share and a revenue of $529 million, signifying shifts of +600% and -7.79%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for BlackBerry. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BlackBerry currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, BlackBerry currently has a Forward P/E ratio of 33.36. This valuation marks a premium compared to its industry average Forward P/E of 28.32.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 82, putting it in the top 34% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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BlackBerry Limited (BB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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