BlackBerry (TSE:BB) (BB) was long known as a leader in mobile devices. After smartphones hit, though, it lost a lot of that cachet and pivoted to cybersecurity and similar products. It recently brought out two new pieces of software, but that didn’t cut much ice with investors, who sent shares down nearly 1.5% in Thursday morning’s trading.
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In a surprising burst of productivity, BlackBerry introduced two new pieces of software. The new software is designed to address various issues in cybersecurity, which is increasingly BlackBerry’s bread and butter.
The first new launch, QNX Containers, is designed to better allow operations to bring in container technology, which are small packets of executable code that work the same way. This allows for better mobile usage and standardization across different locations, which adds flexibility to the system. It also helps ensure reliability, as the containers act the same no matter what system they’re located in.
It Didn’t Stop There
The second new piece of software, CylanceMDR Pro, is a Managed Detection and Response (MDR) system, which incorporates artificial intelligence (AI) into its operations. With an MDR system like this in place, security teams have an extra tool to use in detecting and addressing cybersecurity threats. That’s particularly useful these days, as many businesses have a hard time finding cybersecurity professionals and run the risk of overworking the teams they have.
While the two pieces of software don’t really work together, they serve crucial purposes in defending businesses against outside attacks and making them operate better as a whole. The only real issue here, though, is that BlackBerry’s status as a household name has long since tarnished. Drawing attention to these pieces, therefore, will require a lot of marketing firepower that BlackBerry may not have these days.
What Is the Prediction for BlackBerry Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSE:BB stock based on one Buy and three Holds assigned in the past three months, as indicated by the graphic below. After a 47.18% loss in its share price over the past year, the average TSE:BB price target of C$3.97 per share implies 17.68% upside potential.
