BlackBerry (BB) is approaching its next quarterly financial results on June 24 with its stock on a hot streak, having risen 14% on the year.
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However, with its share price ripping higher, analysts say it likely won’t take much for the stock of the once mighty Canadian smartphone maker to crash on a disappointing print. BlackBerry’s share price fell 10% after the company’s previous financial results missed the mark.
The consensus expectation among analysts is for BlackBerry to post flat earnings of $0.00 per share and revenue of $112.18 million for the quarter. While that might seem like a low bar to jump, it could prove too much for BlackBerry, which has struggled for more than a decade to transition away from its original business as a maker of smartphones and into cybersecurity and Internet of Things (IoT) technologies.
BlackBerry has also become a meme stock in recent years.
Past Performance
In early April of this year, BlackBerry posted a net loss of -$7.4 million for what was its Fiscal fourth quarter. While that was an improvement from a loss of -$56.2 million a year earlier, it showed the company remains unprofitable and continues to struggle financially.
BlackBerry, which keeps its books in U.S. dollars, said its revenue for the quarter totaled $141.7 million, down 7% from $152.9 million in the same quarter a year earlier. Among its business units, the worst-performer was licensing, where revenue came in at $8.6 million, down 44% from $15.4 million in the same quarter of 2024.
BB stock has declined 16% over the last five years and is now a penny stock, defined as any security that trades for less than $5 a share.
Is BB Stock a Buy?
BlackBerry’s stock has a consensus Moderate Buy rating among three Wall Street analysts. That rating is based on one Buy and two Hold recommendations issued in the last three months. The average BB price target of $4.67 implies 8.10% upside from current levels.
Read more analyst ratings on BB stock
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