BlackBerry (BB) Stock Drops Despite Market Gains: Important Facts to Note

BlackBerry (BB) closed the latest trading day at $3.37, indicating a -0.88% change from the previous session's end. This change lagged the S&P 500's 0.63% gain on the day. At the same time, the Dow added 0.21%, and the tech-heavy Nasdaq gained 1.52%.Heading into today, shares of the cybersecurity software and services company had gained 0.29% over the past month, lagging the Computer and Technology sector's gain of 1.66% and outpacing the S&P 500's loss of 0.7% in that time.The upcoming earnings release of BlackBerry will be of great interest to investors. It is anticipated that the company will report an EPS of $0, marking a 100% rise compared to the same quarter of the previous year.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.10 per share and a revenue of $521 million, representing changes of +400% and -9.19%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for BlackBerry. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 100% higher. BlackBerry currently has a Zacks Rank of #1 (Strong Buy).Looking at valuation, BlackBerry is presently trading at a Forward P/E ratio of 34. This represents a premium compared to its industry's average Forward P/E of 26.31.The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 43% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BlackBerry Limited (BB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks