What's Going On With BlackBerry's Stock?

BlackBerry Limited BB shares are moving Friday and the stock is down by more than 10% over the past five days. Here's a look at what's going on. 

The Details:

BlackBerry was one of the meme stocks that rose with GameStop and AMC Entertainment in 2021, however, the stock has not benefited from the return of Roaring Kitty and the renewed mania in GameStop. In fact, BlackBerry shares have fallen 18% over the past month. 

BlackBerry is set to report its first-quarter financial results on June 26 after the market close. According to estimates from Benzinga Pro, analysts expect the company to report losses of 4 cents per share and quarterly revenue of $134.052 million. 

The company will host its Annual General and Special Meeting (AGM) virtually, on June 25 at 1:00 pm ET. 

According to data from Benzinga Pro, shares are trading below the stock’s 50-day moving average of $2.88 and near its 52-week low of $2.46. 

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Will BB Stock Go Up?

When trying to assess whether or not BlackBerry will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $3 on BlackBerry. In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering BlackBerry have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. BlackBerry is 50.59% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about BlackBerry, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

BB Price Action: According to Benzinga Pro, BlackBerry shares are up 0.79% at $2.54 at the time of publication Friday.

Image: Courtesy of BlackBerry Limited