Zinger Key Points
- BlackBerry launches CylanceMDR Pro, a new managed detection and response service aimed at bolstering cybersecurity capabilities.
- BlackBerry anticipates fiscal revenue and earnings within specified ranges for the second quarter and full year.
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BlackBerry Limited BB shares are trading marginally lower in the premarket session on Wednesday.
Benzinga Pro says BB stock has slumped over 47% in the past year.
Today, the company announced the launch of CylanceMDR Pro, a cutting-edge managed detection and response (MDR) service built on an Open XDR platform.
CylanceMDR Pro is built to help security teams deal with modern cybersecurity challenges.
“CylanceMDR Pro is a game-changer for organizations seeking confidence in their cybersecurity posture,” said Nathan Jenniges, Senior Vice President and General Manager of BlackBerry Cybersecurity.
Also Read: FuboTV To Bear The Brunt Of Higher Legal Costs Against ESPN – Analyst’s View
BlackBerry said in a press release that it eases the burden of defending against advanced threats with limited resources and talent shortages.
CylanceMDR Pro is for growing businesses aiming to boost cybersecurity quickly without changing current security setup or hiring large teams.
Its advanced XDR system works smoothly with existing tools, giving thorough visibility across IT systems. With 300+ integrations, it turns business data into strong security sensors, catching threats that other tools might overlook.
“Across the industry, BlackBerry has observed close to a 250% increase in unique attacks per minute in the last year alone, with a continued trend in our latest Global Threat Intelligence Report,” said Jenniges.
Related: BlackBerry Stock Jumps On Q1 Earnings Beat: The Details
BB Stock Prediction 2024
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of BlackBerry BB have an average 1-year price target of $3.36, representing an expected upside of 31.25%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on BlackBerry, while No analysts have bullish ratings. The street high price target from Raymond James is $4.75, while the street low from Canaccord Genuity is $2.7.
Price Action: BB shares are trading lower by 0.77% to $2.550 premarket at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Courtesy of BlackBerry
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