BlackBerry (BB) is surging today after reporting second-quarter results for Fiscal Year 2025. Despite being best known for its mobile phones, the tech company has ventured into other areas lately, which seems to have been its saving grace. Revenue growth from both its IoT and Cybersecurity divisions is likely the driving factor that has been pushing BB stock up all day.
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What’s Happening with BlackBerry Stock
BlackBerry stock gained 4.4% in today’s trading despite losing some of its previous momentum. It has also experienced some volatility throughout the past month but has managed to erase its late September losses.
BlackBerry CEO John J. Giamatteo highlighted the company’s Q2 earnings progress as a key milestone on its path toward profitability. “This result was achieved through a combination of stronger than expected, double-digit revenue growth for both IoT and Cybersecurity,” he stated, while also noting “tremendous ongoing progress in rationalizing [BlackBerry’s] cost structure.”
Indeed, the company’s IoT revenue increased 12% year-over-year (YOY), exceeding the previous guidanace of $55 million. Cybersecurity revenue jumped 10% YOY, surpassing guidance of $87 million. BlackBerry projects that its revenue for the full fiscal year will range from $591 – $616 million.
Is BB Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Hold consensus rating on BB stock based on one Buy, four Holds, and no Sells assigned in the past three months, as indicated by the graphic below. After falling 30% over the past year, the average BB price target of $2.99 per share represents a 15% change from current levels.
Unlike other meme stocks that haven’t given investors much cause for optimism recently, BlackBerry seems to be making real progress and establishing itself as a tech stock to take seriously. However, after spending the year mostly trending downward, BB stock still has a lot of ground to make up.
