Shares of BlackBerry (TSE:BB) are up fractionally in Wednesday morning’s trading after the cybersecurity firm, in conjunction with HaleyTek AB, rolled out the new Generic Automotive Platform (GAP). This is a new tool for “cockpit software” that will help improve the driving experience for everyday users.
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With GAP in place, users can get in on the Android Automotive set of tools as well, which means there is more reason for developers to put Android Automotive to use and make more in-car apps.
BlackBerry’s part in the GAP development comes with the QNX Hypervisor for Safety system, as well as the QNX Sound platform. That, in turn, gives developers and users access to both Software Defined Audio (SDA) and VirtIO systems. Software Defined Audio will improve drives with “software-based acoustic and audio experiences,” while VirtIO improves software lifecycles and cloud-based operations, making them safer and easier to manage.
Cybersecurity Deals Also Help
Meanwhile, BlackBerry secured a new cybersecurity deal with Dicker Data. The new deal brings several of BlackBerry’s biggest products to the Australia and New Zealand areas, including BlackBerry SecuSUITE, BlackBerry AtHoc, BlackBerry UEM, and Cylance AI.
BlackBerry will also be training Dicker Data engineers to certify them as experts in the platforms so they can provide service on what Dicker Data will be selling in short order. The move gives BlackBerry a new foothold in a major market, and gives Dicker Data a range of new products to offer its current customer base.
Is BlackBerry a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Hold consensus rating on BlackBerry stock based on one Buy and five Holds assigned in the past three months, as indicated by the graphic below. After a 59.22% loss in its share price over the past year, the average BlackBerry price target of C$4.43 per share implies 44.7% upside potential.
