Are you ready to Be Bold again? BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB), the Canadian telecommunications and wireless equipment company, has a seen a steady increase in the market and recently reported quasi-impressive quarterly results. Since the beginning of the year, the stock has risen about 24% and, even though its fiscal Q4 missed Street revenue estimates, the company delivered smaller-than-expected losses. Consensus expected a 55-cent loss per share, however the net loss was only 8 cents. Some analysts believe that these somewhat positive data points are hinting at a BBRY comeback, leading them to recommend HOLD BBRY. Yet, there are still analysts who are concerned about BBRY’s overall performance and recommend SELL BBRY.
With BlackBerry’s new CEO, John Chen, at the helm, the company “reduced operating expense spend by 30%,” notes Cowen analyst William Power. William is ready to HOLD BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB), also noting, “BBM monthly average users climbed 5 million sequentially to 85 million, which BBRY hopes to be able to monetize in the future. Though just 7% of revenue today, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) believes that its software and services revenue, driven by BBM, QNX and MDM, can be the key revenue driver in the future.” William is ranked 1514 out of 2478 analysts, with a -0.3% average return over S&P-500 and a 49% success rate of recommendations.
5 Charlie Munger Quotes Every Investor Should Know
Charlie Munger is perhaps best-known as the vice chairman of Berkshire Hathaway, where he has been Warren Buffett's longtime business partner. As well as holding this position, he also servers as the chairman of the Daily Journal Corporation and is a director of Costco Wholesale Corporation. Munger started his investment career in the 1960s when, Read More
Robert W. Baird analyst , Timothy Arcuri, also recommends HOLD BBRY arguing that the CEO, “continues to deliver tangible results as he leads the company’s multi-quarter transition from a hardware-centric OEM to a resurgent Enterprise Mobility & Security play.” Timothy also pointed out that, “The ability to meaningfully narrow BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s losses via cost management while shoring up cash flow for more of the daunting parts of the strategic transition that lie ahead should resonate with investors.” Timothy is ranked 2073 out of 2478 analysts, with a -2.2% average return over S&P-500 and a 41% success rate of recommendations.
But, despite the most recent BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) news, Societe Generale analyst, Andy Perkins, is still focused on the fact that BBRY is almost down 95% from its peak in 2008. Andy downgraded BBRY from HOLD to SELL noting, “the new handset (the BlackBerry “Jakarta”) will launch in April and so will have no impact on the historical results. Additionally, we forecast that Services revenues will also be down almost 13% sequentially as subscriber accounts continue to fall.” Andy is ranked 41 out of 2478 analysts, with a +10.7% average return over S&P-500 and a 90% success rate of recommendations.
Whether you are a loyal BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) user, or not, John Chen will be working hard to try and turn the company around, fighting for its success. To continue following analyst recommendations as BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) attempts to make its way back into a leading position, be sure to download TipRanks and start making informed decisions with advice you can trust.