Why BlackBerry (BB) Outpaced the Stock Market Today

The latest trading session saw BlackBerry (BB) ending at $5.91, denoting a +1.55% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 1.04%. On the other hand, the Dow registered a gain of 0.77%, and the technology-centric Nasdaq increased by 1.51%.The the stock of cybersecurity software and services company has risen by 40.58% in the past month, leading the Computer and Technology sector's gain of 1.48% and the S&P 500's gain of 3.92%.Market participants will be closely following the financial results of BlackBerry in its upcoming release. The company is forecasted to report an EPS of $0.02, showcasing a 33.33% downward movement from the corresponding quarter of the prior year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.01 per share and a revenue of $562 million, indicating changes of -80% and -34.11%, respectively, from the former year.Investors should also note any recent changes to analyst estimates for BlackBerry. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, BlackBerry possesses a Zacks Rank of #1 (Strong Buy).In terms of valuation, BlackBerry is currently trading at a Forward P/E ratio of 582. This denotes a premium relative to the industry's average Forward P/E of 29.78.The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 131, putting it in the bottom 48% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks