Ebene News – CA – BB Stock: Sweet (and sour) headlines impacting BlackBerry stocks today

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BlackBerry (NYSE: BB) stock is down Wednesday after its fiscal 2021 fourth quarter earnings report was released, but that’s not bad news for the company today

Starting with the bad ones, BlackBerry reported $ 210 million in revenue during the period That failed to meet Wall Street’s revenue estimate of $ 245 million It was Also down from the company’s $ 282 million reported in the fourth quarter of fiscal 2020

While Q4 FY2021 revenue wasn’t what BB stock investors wanted to see, its earnings per share weren’t bad The company said adjusted EPS of 3 cents per share , which corresponds to analysts’ estimate for the quarter

John Chen, president and CEO of BlackBerry, tried to cheer up by talking about recovery in earnings report

“This has been an exceptional year for sailing, but we are pleased with the continued recovery of QNX, despite new challenges related to the global chip shortage. QNX has now achieved design victories with 23 of the 25 largest electric vehicle manufacturers in the world and remains on track to return to a normal rate of revenue by mid-fiscal 2022″

It is true that the BlackBerry Revenue Report did BB a disservice today, but there is one bright spot to note Canaccord Analyst Genuity T Micahel Walkley improved the title in a recent memo to investors

This allowed Walkley to take the BB stock from a sell rating to a maintenance rating Unfortunately, even this news is a bit mixed up with a lowered price target Analysts lowered the price target by BB share at $ 9 per share, compared to $ 10 per share

BB stock was down 88% on Wednesday morning but is still up 294% year-to-date

BlackBerry stock has been in the news quite frequently lately as Reddit investors have clung to the company

Reddit traders tend to favor short stocks This has led these retail traders to take on hedge funds in an attempt to drive up stock prices before coming away with profits Some of their favorites include GameStop (NYSE: GME), AMC Entertainment (NYSE: AMC), and Nokia (NYSE: NOK) Investors can check out Reddit stocks below

As of the publication date, William White does not have (neither directly nor indirectly) any position in any of the titles mentioned in this article

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Ebene News – CA – Action BB: the sweet (and sour) headlines impacting BlackBerry stocks today

Source: https://investorplace.com/2021/03/bb-stock-the-sweet-and-sour-headlines-impacting-blackberry-shares-today/