BlackBerry (NYSE:BB) Releases FY25 Earnings Guidance

BlackBerry (NYSE:BB) issued an update on its FY25 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $(0.07)-$(0.03) for the period, compared to the consensus estimate of ($0.06). The company issued revenue guidance of $586-616 million, compared to the consensus revenue estimate of $627.42 million. BlackBerry also updated its FY 2025 guidance to -0.070–0.030 EPS.

BlackBerry Trading Up 0.2 %

Shares of BB stock traded up $0.01 on Wednesday, reaching $2.81. The company had a trading volume of 10,550,255 shares, compared to its average volume of 9,562,382. The stock has a market cap of $1.65 billion, a PE ratio of -2.83 and a beta of 1.41. The company has a 50-day moving average of $2.77 and a 200-day moving average of $3.44. BlackBerry has a 12 month low of $2.46 and a 12 month high of $5.75.

BlackBerry (NYSE:BB) last announced its quarterly earnings results on Wednesday, April 3rd. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. BlackBerry had a negative return on equity of 4.27% and a negative net margin of 68.47%. The company had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $150.47 million. During the same period in the prior year, the business posted ($0.04) EPS. BlackBerry’s revenue was up 14.6% on a year-over-year basis. Sell-side analysts anticipate that BlackBerry will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

BB has been the subject of several research analyst reports. Raymond James decreased their price objective on BlackBerry from $7.00 to $6.50 and set a market perform rating for the company in a research report on Thursday, December 21st. Canaccord Genuity Group decreased their price objective on BlackBerry from $5.00 to $4.25 and set a hold rating for the company in a research report on Thursday, December 21st. Royal Bank of Canada reduced their price target on BlackBerry from $4.00 to $3.00 and set a sector perform rating for the company in a research report on Wednesday, February 14th. StockNews.com downgraded BlackBerry from a hold rating to a sell rating in a research report on Wednesday, February 21st. Finally, TD Securities reduced their price target on BlackBerry from $4.00 to $3.75 and set a hold rating for the company in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, BlackBerry has an average rating of Hold and an average target price of $4.08.

Insider Buying and Selling at BlackBerry

In other news, CFO Steve Rai sold 20,047 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $3.25, for a total transaction of $65,152.75. Following the sale, the chief financial officer now directly owns 84,599 shares in the company, valued at $274,946.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Philip G. Brace acquired 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average price of $2.79 per share, with a total value of $97,650.00. Following the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $97,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steve Rai sold 20,047 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $3.25, for a total value of $65,152.75. Following the completion of the sale, the chief financial officer now directly owns 84,599 shares in the company, valued at approximately $274,946.75. The disclosure for this sale can be found here. Insiders have sold a total of 44,090 shares of company stock worth $142,812 over the last 90 days. Insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On BlackBerry

A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in BlackBerry during the 1st quarter worth approximately $96,000. JPMorgan Chase & Co. grew its position in shares of BlackBerry by 20.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,012,638 shares of the company’s stock worth $15,014,000 after buying an additional 348,263 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of BlackBerry by 31.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 34,771 shares of the company’s stock worth $259,000 after buying an additional 8,343 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of BlackBerry by 62.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 12,876 shares of the company’s stock worth $95,000 after buying an additional 4,974 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of BlackBerry by 26.1% in the 1st quarter. Citigroup Inc. now owns 549,820 shares of the company’s stock worth $4,080,000 after buying an additional 113,962 shares during the last quarter. 54.48% of the stock is owned by hedge funds and other institutional investors.

About BlackBerry

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.