BlackBerry's Path To Profitability In Question, Analyst Cites Cybersecurity Struggles and Sluggish IoT Growth
Portfolio Pulse from Anusuya Lahiri
BlackBerry's stock is declining despite reporting better-than-expected Q2 revenue. The company faces challenges in its Cybersecurity and IoT segments, with an analyst maintaining a Sector Perform rating and a $3 price target. The analyst highlights sluggish growth and lack of profitability as concerns.
September 27, 2024 | 7:55 pm
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BlackBerry's stock is under pressure despite surpassing Q2 revenue expectations. The company struggles with growth in Cybersecurity and IoT, leading to a Sector Perform rating and a $3 price target by RBC Capital. The analyst cites historical struggles and lack of profitability as key issues.
BlackBerry reported better-than-expected Q2 revenue, but the stock is declining due to concerns over sluggish growth in its Cybersecurity and IoT segments. The analyst's Sector Perform rating and $3 price target reflect these challenges, impacting investor sentiment negatively.
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