While BlackBerry’s (TSE:BB) (NYSE:BB) best days may be behind it with the ashes of the Obama Administration, that hasn’t stopped it from trying. The former mobile device titan turned cybersecurity stock rolled out a new cybersecurity assistant, and that was good enough for investors to give a fractional boost to BlackBery stock.
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The new tool is known as Cylance Assistant, a cybersecurity tool built on an artificial intelligence (AI) platform, as so many new tools are built around these days. It will also draw some help from Amazon’s (NASDAQ:AMZN) Bedrock system, which should put a little extra life into it. Cylance Assistant will be able to offer help in decision making, as well as detecting threats early.
Cylance can actually keep up with a company’s investigations into cyber threats and work according to the progress that has been generated thus far. That means less time spent on identifying threats and more time actually addressing them, with fewer redundancies.
A Bigger Push into Cybersecurity
BlackBerry may previously have been known for its mobile devices, but its pivot into cybersecurity has delivered some impressive results so far. In fact, BlackBerry will offer up a presentation at RSA 2024 detailing ways to protect supply chains against cyber attacks, which is actually a hot-button issue these days in some circles. The presentation will address improving zero-trust security measures, understanding supply chain attacks, and more.
Meanwhile, BlackBerry will also have a booth at the event, showing off three new Cylance systems: Endpoint, Guard, and Edge. In addition, it will include three cybersecurity systems: UEM, AtHoc, and SecuSUITE.
Is BlackBerry Stock a Buy or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on BlackBerry stock based on four Holds assigned in the past three months, as indicated by the graphic below. After a 32.52% loss in its share price over the past year, the average BlackBerry price target of C$4.09 per share implies 5.24% upside potential.
