In the latest market close, BlackBerry (BB) reached $3.92, with a +1.03% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.73%. Meanwhile, the Dow experienced a drop of 0.64%, and the technology-dominated Nasdaq saw an increase of 1.61%.
Shares of the cybersecurity software and services company witnessed a gain of 20.12% over the previous month, beating the performance of the Computer and Technology sector with its gain of 11.93% and the S&P 500's gain of 9.07%.
The investment community will be closely monitoring the performance of BlackBerry in its forthcoming earnings report. The company's upcoming EPS is projected at $0, signifying a 100% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.10 per share and a revenue of $521 million, demonstrating changes of +400% and -9.19%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for BlackBerry. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, BlackBerry possesses a Zacks Rank of #1 (Strong Buy).
Digging into valuation, BlackBerry currently has a Forward P/E ratio of 38.8. This expresses a premium compared to the average Forward P/E of 29.19 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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