BlackBerry Share Price Forecast March 2022 – Time to Buy BB?
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Shares of packaged software company BlackBerry (NYSE: BB) are in the red today, after closing at $7.59 as of March 30th (19:55 EDT). BlackBerry shares have recovered in the last couple of weeks as they rose about 11% in the week ending on March 18th. The recent gains can be a sign of a big long-term rally in the future. BlackBerry shares have declined by 20% in 2022 and is currently trading in their lowest range since 2020.
BlackBerry – Technical Analysis
The financial statement released by BlackBerry indicates a market cap of $4.354 billion with total assets worth $2.608 billion. Revenue for 2020 was at $941.11 million with a profit margin of -123.63% compared to $1.03 billion in 2019.
Oscillators such as Relative Strength Index (14)(57.97), Stochastic %K (14, 3, 3)(88.51), Commodity Channel Index (20)(97.09), Average Directional Index (14)(30.99) and Awesome Oscillator(0.73) are neutral. Moving averages such as Exponential Moving Average (10)(7.39), Simple Moving Average (10)(7.41), Exponential Moving Average (20)(7.17), Simple Moving Average (20)(6.91) and Exponential Moving Average (30)(7.17) are indicating a buy action.
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Recent Developments
BlackBerry announced a partnership with Amazon Web Services in late 2020 to develop and market BlackBerry’s Intelligent Vehicle Data Platform, IVY. The BlackBerry IVY platform is an intelligent vehicle data platform that allows automakers to access real-time vehicle sensor data. By using raw data, processing it, and developing insight. The first version of the platform was very successful. The company has won countless awards for its products and designs, creating its top-notch reputation and respect. This explains its strong partnerships, business relations, contracts and revenue. IVY is also designed to meet OEM’s granting them control of the data. This makes BlackBerry not a threat but a true partner.
BlackBerry as a company will release its fourth-quarter earnings report for the fiscal year 2022 later in the week. Analysts expect it to report total revenue at $188.9 million which is a sequential increase of 3%. However, it is still down 12% on a year-over-year basis. The company is expected to report an adjusted net loss of around $0.04 per share in the February 2022 quarter compared to $0.03 per share in the same period last year.
Should You Buy BB Shares?
BlackBerry’s main focus was always the cybersecurity section but its automotive segment is not far behind. Its QNX operating system is in 200 million vehicles across the world. It is now trying to take advantage of upcoming trends in the automotive industry by introducing advanced machine learning and artificial intelligence-based technological solutions.
Investors might find the recent growth trends in the company not impressive. However, analyst estimates for its upcoming quarterly results also look conservative. The company’s sales growth has been negatively affected by the sale of its IP patent portfolio’s non-core portion. With the negotiation process completed in January, BlackBerry can finally focus on improving its overall revenue growth in the coming quarters.
The only way BlackBerry can beat analyst estimates is with the surging demand for its enterprise cybersecurity offerings in the present world. Businesses are willing to increase their spending on cybersecurity tools to keep their data safe and secure from online threats. This can drive demand, which could force the latest quarterly results to beat analysts’ expectations. This can lead to BlackBerry shares entering a sharp rally later this week. Considering this now is a good time to buy BlackBerry shares.
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