Market Analysts see BlackBerry Ltd [BB] falling to $4. Time to buy?

BlackBerry Ltd [NYSE: BB] closed the trading session at $2.71. The company report on February 21, 2024 at 8:00 PM that BlackBerry and SANS Institute Partner to Bolster Cybersecurity Skills in Malaysia.

The New BlackBerry Cybersecurity Center of Excellence (CCoE) will offer SANS training courses to help grow and upskill cyber workforces across the country and the Indo-Pacific region.

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– BlackBerry Limited (NYSE: BB; TSX: BB) and the SANS Institute (SANS) today announced a new partnership in Malaysia, offering SANS training courses through the soon-to-be-opened BlackBerry Cybersecurity Center of Excellence (CCoE) in Kuala Lumpur. In an effort to help bolster national cybersecurity capacity in Malaysia, the partnership will offer advanced technology and training to help upskill Malaysia’s cyber-defenders, with a particular focus in critical areas like forensics and incident response. Now open for registrations, the SANS Secure Malaysia 2024 inaugural training will take place from March 11 – 16, and the first featured course will be “SEC504: Hacker Tools, Techniques, and Incident Handling.”.

The stocks have a year to date performance of -23.45 percent and weekly performance of 0.74 percent. The stock has been moved at -48.18 percent over the last six months. The stock has performed -7.19 percent around the most recent 30 days and changed -25.75 percent over the most recent 3-months.

If compared to the average trading volume of 7.91M shares, BB reached to a volume of 6697297 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about BlackBerry Ltd [BB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BB shares is $4.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BB stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for BlackBerry Ltd shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on December 21, 2023. While these analysts kept the previous recommendation, CIBC raised their target price from $4.20 to $6.50. The new note on the price target was released on May 18, 2023, representing the official price target for BlackBerry Ltd stock. Previously, the target price had yet another raise to $4, while TD Securities analysts kept a Hold rating on BB stock.

The Average True Range (ATR) for BlackBerry Ltd is set at 0.12, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 1.91. The Price to Book ratio for the last quarter was 1.92, with the Price to Cash per share for the same quarter was set at 0.36.

BB stock trade performance evaluation

BlackBerry Ltd [BB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.74. With this latest performance, BB shares dropped by -7.19% in over the last four-week period, additionally sinking by -48.18% over the last 6 months – not to mention a drop of -28.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BB stock in for the last two-week period is set at 41.15, with the RSI for the last a single of trading hit 44.99, and the three-weeks RSI is set at 39.77 for BlackBerry Ltd [BB]. The present Moving Average for the last 50 days of trading for this stock 3.20, while it was recorded at 2.65 for the last single week of trading, and 4.22 for the last 200 days.

BlackBerry Ltd [BB]: An insightful look at the core fundamentals

BlackBerry Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.89 and a Current Ratio set at 0.89.

Earnings per share (EPS) analysis for BlackBerry Ltd [BB] stock

With the latest financial reports released by the company, BlackBerry Ltd posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 60.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BB.

BlackBerry Ltd [BB]: Institutional Ownership

The top three institutional holders of BB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BB stock with ownership which is approximately 5.8325%.