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Are BlackBerry Limited (NYSE: BB) Shares Ready For A Higher Price Run?

In today’s recent session, 0.78 million shares of the BlackBerry Limited (NYSE:BB) have been traded, and its beta is 1.53. Most recently the company’s share price was $5.18, and it changed around -$0.1 or -1.89% from the last close, which brings the market valuation of the company to $3.09B. BB at last check was trading at a discount to its 52-week high of $7.20, offering almost -39.0% off that amount. The share price’s 52-week low was $3.17, which indicates that the recent value has risen by an impressive 38.8% since then. We note from BlackBerry Limited’s average daily trading volume that its 10-day average is 4.48 million shares, with the 3-month average coming to 5.36 million.

BlackBerry Limited stock received a consensus recommendation rating of a Hold, based on a mean score of 3.10. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 9 recommended BB as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. BlackBerry Limited is expected to report earnings per share of -$0.05 for the current quarter.

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BlackBerry Limited (NYSE:BB) trade information

Instantly BB has been showing red trend so far today with a performance of -1.89% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 5.51 on Tuesday, 05/23/23 increased the stock’s daily price by 5.99%. The company’s shares are currently up 58.90% year-to-date, but still down -3.72% over the last five days. On the other hand, BlackBerry Limited (NYSE:BB) is 30.48% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $6.06, which translates to bulls needing to increase their stock price by 14.52% from its current value. Analyst projections state that BB is forecast to be at a low of $4.00 and a high of $11.00. In order for the stock price to hit the forecast high, the stock would need to plunge -112.36% from its current level, while the stock would need to crash 22.78% from its current level to reach the projected low.

BlackBerry Limited (BB) estimates and forecasts

BlackBerry Limited share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 12.85 percent over the past six months and at a 61.11% annual growth rate that is well above the industry average of 13.90%. The year-over-year growth rate is expected to be 6.90%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $161.17 million in revenue for the current quarter. 3 analysts expect BlackBerry Limited to make $163.58 million in revenue for the quarter ending Aug 2023. The company’s sales for the same quarters a year ago were $168 million and $166.67 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -4.10%. Forecasts for the next quarter put sales growth at -1.90%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -28.20%.

BB Dividends

BlackBerry Limited’s next quarterly earnings report is expected to be released around June 21 and June 26.

BlackBerry Limited (NYSE:BB)’s Major holders

Primecap Odyssey Aggressive Growth Fund, with 1.62% or 9.44 million shares worth $48.82 million as of Jan 30, 2023, holds the second largest percentage of outstanding shares.

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