BlackBerry Ltd (NYSE: BB) Stock Forecast: $5 Per Share In 2024 With Positive Signs


In the last trading session, 6.9 million shares of the BlackBerry Ltd (NYSE:BB) were traded, and its beta was 1.40. Most recently the company’s share price was $2.76, and it changed around $0.01 or 0.36% from the last close, which brings the market valuation of the company to $1.62B. BB currently trades at a discount to its 52-week high of $5.75, offering almost -108.33% off that amount. The share price’s 52-week low was $2.46, which indicates that the current value has risen by an impressive 10.87% since then. We note from BlackBerry Ltd’s average daily trading volume that its 10-day average is 9.01 million shares, with the 3-month average coming to 9.47 million.

BlackBerry Ltd stock received a consensus recommendation rating of Hold, based on a mean score of 2.55. If we narrow it down even further, the data shows that 1 out of 9 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 7 recommended BB as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. BlackBerry Ltd is expected to report earnings per share of -$0.03 for the current quarter.

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BlackBerry Ltd (NYSE:BB) trade information

Instantly BB has showed a green trend with a performance of 0.36% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -22.03% year-to-date, but still down -0.72% over the last five days. On the other hand, BlackBerry Ltd (NYSE:BB) is 2.60% up in the 30-day period. We can see from the shorts that 43.29 million shares have been sold at a short interest cover period of 4.43 day(s).

The consensus price target as assigned by Wall Street analysts is $4.5, which translates to bulls needing to increase their stock price by 38.67% from its current value. Analyst projections state that BB is forecast to be at a low of $4 and a high of $5.

BlackBerry Ltd (BB) estimates and forecasts

BlackBerry Ltd 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 fallen -43.56 percent over the past six months and at a 100.00% annual growth rate that is well above the industry average of 13.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -50.00% in revenue this quarter, and will report a decrease of -133.30% in the next quarter. The year-over-year growth rate is expected to be 26.60%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $154.59 million in revenue for the current quarter. 3 analysts expect BlackBerry Ltd to make $151.12 million in revenue for the quarter ending May 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 2.40%.

BB Dividends

BlackBerry Ltd’s next quarterly earnings report is expected to be released around March 12 and March 16.

BlackBerry Ltd (NYSE:BB)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.67% of BlackBerry Ltd shares, and 52.39% of them are in the hands of institutional investors. The stock currently has a share float of 53.28%. BlackBerry Ltd stock is held by 301 institutions, with Fairfax Financial Holdings Ltd being the largest institutional investor. By Jun 29, 2023, it held 8.00% of the shares, which is about 46.72 million shares worth $258.39 million.

Fifthdelta Ltd, with 7.24% or 42.24 million shares worth $233.61 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

First Trust NASDAQ Cybersecurity ETF and Vanguard/Primecap Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 16.75 million shares worth $78.9 million, making up 2.87% of all outstanding shares. On the other hand, Vanguard/Primecap Fund held roughly 9.98 million shares worth around $55.16 million, which represents about 1.71% of the total shares outstanding.