BlackBerry Limited (NYSE:BB) Stock: Performance and Outlook – Marketing Sentinel
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BlackBerry Limited (NYSE:BB) Stock: Performance and Outlook

In the last trading session, 38,351,366 BlackBerry Limited (NYSE:BB) shares changed hands as the company’s beta touched 1.22. With the company’s per share price at $12.9 changed hands at -$0.61 or -0.05% during last session, the market valuation stood at $7.34 Billion. BB’s last price was a discount, traded about -123.02% off its 52-week high of $28.77. The share price had its 52-week low at $4.37, which suggests the last value was 66.12% up since then. When we look at BlackBerry Limited’s average trading volume, we note the 10-day average is 44.84 Million shares, with the 3-month average coming to 41Million.

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Analysts gave the BlackBerry Limited (BB) stock a consensus recommendation rating of Underweight, calculated at a mean rating of 3.6. If we narrow down to specifics, the data shows that 4 out of 9 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 4 recommended BB as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. BlackBerry Limited’s EPS for the current quarter is expected to be -$0.05.


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BlackBerry Limited (NYSE:BB) trade information

Although BB has turned red as seen at the end of in last trading. With action -4.52%, the performance over the past five days has been red. The jump to weekly highs of $14.75 on Monday, Jun 14 added 12.54% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.95%, with the 5-day performance at -0.09% in the red. However, in the 30-day time frame, BlackBerry Limited (NYSE:BB) is 0.47% up. Looking at the short shares, we see there were 46.97 Million shares sold at short interest cover period of 1.15 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9.56, meaning bulls need a downside of -25.89% from its current market value. According to analyst projections, BB’s forecast low is $4.5 with $20 as the target high. To hit the forecast high, the stock’s price needs a +55.04% upsurge from its current level, while the stock would need to tank -65.12% for it to hit the projected low.

BlackBerry Limited (BB) estimates and forecasts

Data shows that the BlackBerry Limited share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +56.55% over the past 6 months, a -150% in annual growth rate that is considerably lower than the industry average of 9.8%. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for BlackBerry Limited will drop -350%, while the growth in revenue is estimated to hit -145.5% for the next quarter. Year-over-year growth is forecast to reach -10.3% down from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $171.25 Million. 3 analysts are of the opinion that BlackBerry Limited’s revenue for the quarter ending August 01, 2021 will be $180Million. The company’s revenue for the corresponding quarter a year ago was $214.09 Million. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -37.8%. The 2021 estimates are for BlackBerry Limited earnings to decrease by -616.7%, but the outlook for the next 5-year period is at 0% per year.

BlackBerry Limited (NYSE:BB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.48% of BlackBerry Limited shares while 42.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 42.88%. There are 457 institutions holding the BlackBerry Limited stock share, with Fairfax Financial Holdings Ltd the top institutional holder. As of Mar 30, 2021, the company held 8.25% of the shares, roughly 46.72 Million BB shares worth $393.89 Million.

Primecap Management Company holds the second largest percentage of outstanding shares, with 7.78% or 44.05 Million shares worth $371.32 Million as of Mar 30, 2021.

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Among Mutual Funds, the top two as of Mar 30, 2021 were Primecap Odyssey Aggressive Growth Fund and Vanguard/Primecap Fund. With 13467166 shares estimated at $113.53 Million under it, the former controlled 2.38% of total outstanding shares. On the other hand, Vanguard/Primecap Fund held about 1.76% of the shares, roughly 9.98 Million shares worth around $84.09 Million.

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