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

BlackBerry Ltd [NYSE: BB] price surged by 0.76 percent to reach at $0.02. The company report on March 26, 2024 at 3:00 AM that BlackBerry Officially Opens Cybersecurity Center of Excellence in Malaysia.

New BlackBerry Cybersecurity Curriculum marks major milestone in the company’s long-term deal with the Government of Malaysia, establishing the nation as a regional hub of excellence.

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BlackBerry Limited (NYSE: BB; TSX: BB) officially opened a world-class Cybersecurity Center of Excellence (CCoE) in Kuala Lumpur today at a ceremony officiated by Prime Minister of Malaysia, YAB Dato’ Seri Anwar bin Ibrahim, Canada’s Minister of Export Promotion, International Trade and Economic Development, The Honorable Mary Ng, and BlackBerry CEO, John Giamatteo. The new CCoE will deliver exceptional cybersecurity training and cyber threat intelligence to help Malaysia and partners in the region better prevent, deter, and respond to cyber threats facing governments and organizations in the Indo-Pacific region.

The one-year BB stock forecast points to a potential upside of 38.99. The average equity rating for BB stock is currently 2.55, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $4.36 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 2.55. 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 0.15, with the Price to Sales ratio for BB stock in the period of the last 12 months amounting to 1.87. The Price to Book ratio for the last quarter was 1.89, with the Price to Cash per share for the same quarter was set at 0.36.

BB Stock Performance Analysis:

BlackBerry Ltd [BB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.69. With this latest performance, BB shares gained by 1.92% in over the last four-week period, additionally sinking by -46.69% over the last 6 months – not to mention a drop of -30.73% 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 45.06, with the RSI for the last a single of trading hit 44.75, and the three-weeks RSI is set at 44.60 for BlackBerry Ltd [BB]. The present Moving Average for the last 50 days of trading for this stock 2.85, while it was recorded at 2.67 for the last single week of trading, and 3.97 for the last 200 days.

Insight into BlackBerry Ltd 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.

BB Stock EPS

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] Institutonal Ownership Details

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%.