BlackBerry Stock Is Moving Lower Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
BlackBerry Ltd (NYSE:BB) shares dropped after reporting Q3 financial results with revenue of $175 million, slightly above estimates, but projecting Q4 revenue below expectations. The company reported a smaller loss per share compared to last year and highlighted strong cybersecurity deals. Analyst Luke Junk from Baird maintained a Neutral rating on BB but lowered the price target from $5.50 to $5.
December 21, 2023 | 1:46 pm
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BlackBerry's stock is trading lower due to Q3 results with higher revenue but a lower Q4 forecast than expected, and a reduced price target from Baird.
BlackBerry's stock is likely to face downward pressure in the short term due to the lower-than-expected Q4 revenue forecast and the lowered price target by Baird, despite a smaller loss per share and strong cybersecurity revenue.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100