BlackBerry shares are trading lower after the company reported Q3 financial results and issued Q4 revenue guidance below estimates. Also, Baird and RBC Capital lowered their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
BlackBerry's stock price fell following its Q3 financial results, which were accompanied by Q4 revenue guidance that did not meet expectations. Additionally, Baird and RBC Capital reduced their price targets for BlackBerry.
December 21, 2023 | 4:37 pm
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NEGATIVE IMPACT
BlackBerry reported lower than expected Q3 results and issued weak Q4 revenue guidance, leading to a decline in its stock price. Baird and RBC Capital also lowered their price targets.
The negative impact on BlackBerry's stock (BB) is due to the company's Q3 financial performance not meeting expectations and the issuance of Q4 revenue guidance that was below analyst estimates. The reduction in price targets by Baird and RBC Capital further suggests a bearish outlook, likely leading to a short-term negative sentiment among investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100