In the latest trading session, BlackBerry (BB) closed at $4.09, marking a -0.97% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.56%. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq depreciated by 0.51%.
The cybersecurity software and services company's shares have seen an increase of 21.47% over the last month, surpassing the Computer and Technology sector's gain of 11.21% and the S&P 500's gain of 7.37%.
Analysts and investors alike will be keeping a close eye on the performance of BlackBerry in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0, reflecting a 100% increase from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.10 per share and revenue of $521 million, indicating changes of +400% and -9.19%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for BlackBerry. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, BlackBerry boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, BlackBerry is presently being traded at a Forward P/E ratio of 41.3. This denotes a premium relative to the industry's average Forward P/E of 29.23.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 57, this industry ranks in the top 24% of all industries, numbering over 250.
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.
To follow BB in the coming trading sessions, be sure to utilize Zacks.com.
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BlackBerry Limited (BB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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