BlackBerry (NYSE:BB) Price Target Raised to $13.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised BlackBerry’s price target from $10.00 to $13.00 and kept an “outperformer” rating, implying about 16% upside from the prior close.
• BlackBerry’s shares rose 8.4% to $11.21, near their 12-month high, as investors reacted to improving fundamentals and the updated analyst outlook.
• The company recently posted better-than-expected first-quarter results, with revenue up 25.6% year over year and EPS beating estimates, while management also raised FY2027 guidance.

BlackBerry (NYSE:BB - Get Free Report) had its price target boosted by investment analysts at Canadian Imperial Bank of Commerce from $10.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperformer" rating on the stock. Canadian Imperial Bank of Commerce's price target points to a potential upside of 16.02% from the stock's previous close.

BB has been the subject of several other research reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $4.50 price objective on shares of BlackBerry in a research report on Friday, April 10th. Weiss Ratings upgraded shares of BlackBerry from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. Wall Street Zen raised shares of BlackBerry from a "hold" rating to a "buy" rating in a research report on Monday, June 8th. Stifel Nicolaus began coverage on shares of BlackBerry in a research note on Wednesday. They set a "buy" rating and a $12.00 price objective on the stock. Finally, Canaccord Genuity Group set a $10.30 price objective on shares of BlackBerry in a report on Friday. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, BlackBerry presently has an average rating of "Hold" and a consensus price target of $8.10.

BlackBerry Stock Up 8.4%

Shares of NYSE:BB traded up $0.86 during trading on Friday, hitting $11.21. The stock had a trading volume of 27,661,734 shares, compared to its average volume of 19,062,555. BlackBerry has a 12 month low of $3.12 and a 12 month high of $11.27. The company has a market capitalization of $6.57 billion, a PE ratio of 140.08 and a beta of 2.29. The firm's fifty day moving average is $7.37 and its 200 day moving average is $4.97. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.26.

BlackBerry (NYSE:BB - Get Free Report) last released its earnings results on Thursday, June 25th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. BlackBerry had a return on equity of 10.09% and a net margin of 9.69%.The company had revenue of $152.90 million during the quarter, compared to analysts' expectations of $139.81 million. During the same quarter last year, the business posted $0.02 EPS. The firm's revenue for the quarter was up 25.6% compared to the same quarter last year. BlackBerry has set its FY 2027 guidance at 0.160-0.200 EPS and its Q2 2027 guidance at 0.030-0.040 EPS. Analysts anticipate that BlackBerry will post 0.13 EPS for the current fiscal year.

Insider Activity at BlackBerry

In related news, CEO John Joseph Giamatteo sold 27,066 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $3.56, for a total value of $96,354.96. Following the completion of the transaction, the chief executive officer directly owned 899,146 shares in the company, valued at $3,200,959.76. The trade was a 2.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jennifer Armstrong-Owen sold 29,908 shares of the company's stock in a transaction that occurred on Saturday, April 4th. The shares were sold at an average price of $3.56, for a total value of $106,472.48. Following the completion of the transaction, the senior vice president directly owned 94,903 shares in the company, valued at $337,854.68. This trade represents a 23.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 73,171 shares of company stock worth $260,489. Insiders own 0.51% of the company's stock.

Hedge Funds Weigh In On BlackBerry

A number of hedge funds have recently bought and sold shares of the business. Amundi boosted its holdings in shares of BlackBerry by 52.7% during the 1st quarter. Amundi now owns 116,430 shares of the company's stock valued at $377,000 after acquiring an additional 40,184 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of BlackBerry by 139.2% during the first quarter. Renaissance Technologies LLC now owns 3,545,543 shares of the company's stock valued at $11,488,000 after purchasing an additional 2,063,153 shares during the last quarter. Wealthfront Advisers LLC bought a new position in BlackBerry during the first quarter valued at approximately $34,000. Bank of New York Mellon Corp bought a new position in BlackBerry during the first quarter valued at approximately $37,000. Finally, V2 Financial group LLC boosted its holdings in BlackBerry by 6.8% in the first quarter. V2 Financial group LLC now owns 32,100 shares of the company's stock worth $104,000 after purchasing an additional 2,050 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company's stock.

More BlackBerry News

Here are the key news stories impacting BlackBerry this week:

• Positive Sentiment: BlackBerry posted first-quarter revenue of about $152.9 million, up 26% year over year, and EPS of $0.04, both above analyst estimates, showing the core business is outperforming expectations. BlackBerry Reports First Quarter Fiscal Year 2027 Results
• Positive Sentiment: Management raised full-year FY2027 revenue and EPS guidance, signaling confidence that momentum in QNX and Secure Communications can continue. BlackBerry lifts annual revenue forecast as QNX unit powers growth
• Positive Sentiment: QNX growth, stronger secure communications demand, and the company’s first cash-positive quarter in nine years helped support the bullish reaction and the “mission critical software” narrative. BlackBerry Stock Rises After Q1 Double Beat, First Cash-Positive Quarter In Nine Years
• Neutral Sentiment: Coverage around BlackBerry’s turnaround and its growing AI-related opportunities is adding to investor interest, but this is more of a sentiment booster than a fundamental catalyst by itself. BlackBerry Sees New AI Opportunities as Embedded-Software Business Accelerates
• Neutral Sentiment: BlackBerry also announced election results for its board of directors, which is routine corporate housekeeping and unlikely to move the stock materially. BlackBerry Announces Election Results for the Company's Board of Directors

About BlackBerry

BlackBerry Limited, formerly known as Research In Motion (RIM), is a Canadian enterprise software and cybersecurity company based in Waterloo, Ontario. Since its founding in 1984, the firm has evolved from a pioneer in mobile devices into a specialist in secure communications, endpoint management, and embedded systems software. BlackBerry's core mission today centers on delivering security-first solutions that protect critical data and infrastructure across diverse industries.

At the heart of BlackBerry's offerings is the BlackBerry Spark® platform, which combines unified endpoint management (UEM), secure communications, and artificial intelligence–driven threat detection into a single framework.

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