Ahead of the company’s fourth quarter results, CIBC analyst Todd Coupland has maintained his “Buy” rating and $7.00 price target on BlackBerry (BlackBerry Stock Quote, Chart, News, Analysts, Financials NYSE:BB).
Coupland raised his price target on BB from (US) $6.00 to $7.00 on February 24.
On April 2, before the market open, BlackBerry will report its Q4 and fiscal 2025 results.
On December 19, BB reported its Q3 results. The company posted a Net Loss of $11.0-million on revenue of $143.0-million, down 5.9%, year-over-year. Despite the downtick, manangement said the company was heading in the right direction.
“BlackBerry achieved a significant inflection in its results this past quarter,” CEO John J. Giamatteo said. “Driven by a combination of strong revenue performance for both our Cybersecurity and IoT divisions, and continued focus on costs and efficiency, the Company delivered stronger than expected profitability and a return to positive cash flow ahead of schedule. The announcement of a definitive agreement for the sale of Cylance to Arctic Wolf is a further transformational step for the Company, placing BlackBerry on a path to accelerating profitability post-close.”
Shares of BlackBerry on the NYSE closed March 28th down 1% to $3.92.
About The Author /
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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