CIBC keeps “Buy” rating on BlackBerry

With its shares trading near all-time lows, CIBC analyst Todd Coupland thinks there may be some money to be made on BlackBerry (BlackBerry Stock Quote, Chart, News, Analysts, Financials NYSE:BB).

As reported by TipRanks, Coupland July 22 maintained his “Buy” rating and price target of $3.50 on BlackBerry.

On June 26, BlackBerry reported its Q1, 2025 results. The company posted Adjusted EBITDA of negative $7.0-million on revenue of $144.0-million, down substantially from the $373.0-million topline the company posted in the same period a year prior.

“BlackBerry’s strategy is delivering results. The Company is making significant progress towards operational independence for our IoT and Cybersecurity businesses, as well as towards profitability. We exceeded our outlook range for both adjusted EBITDA and non-GAAP EPS this quarter and achieved a third consecutive sequential improvement in free cash usage. BlackBerry remains on track to be both profitable on a non-GAAP basis and generating positive cashflow in the fourth quarter,” CEO John J. Giamatteo said. “Both our IoT and Cybersecurity businesses beat revenue expectations. QNX recorded solid royalty revenue while our Cybersecurity division delivered a second consecutive quarter of ARR growth, as well as further enhancing dollar-based net retention.”