BlackBerry (BB) Suffers a Larger Drop Than the General Market: Key Insights

In the latest close session, BlackBerry (BB) was down 2.57% at $3.60. This change lagged the S&P 500's 1.6% loss on the day. On the other hand, the Dow registered a loss of 1.23%, and the technology-centric Nasdaq decreased by 2.24%. The stock of cybersecurity software and services company has fallen by 15.17% in the past month, lagging the Computer and Technology sector's gain of 4.45% and the S&P 500's gain of 2.25%.The investment community will be paying close attention to the earnings performance of BlackBerry in its upcoming release. Simultaneously, our latest consensus estimate expects the revenue to be $125 million, showing a 13.79% drop compared to the year-ago quarter. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.1 per share and a revenue of $525.5 million, representing changes of +400% and -8.4%, respectively, from the prior year. Investors might also notice recent changes to analyst estimates for BlackBerry. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, BlackBerry holds a Zacks Rank of #3 (Hold). In the context of valuation, BlackBerry is at present trading with a Forward P/E ratio of 36.9. This represents a premium compared to its industry average Forward P/E of 28.71. The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 75, finds itself in the top 31% echelons of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BlackBerry Limited (BB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks