TORONTO, June 29, 2026, 14:08 EDT
- BlackBerry jumped 8.6% to $12.39 in Monday’s regular session, trading on higher-than-average volume for the last 65 days.
- The stock’s five-day move suggests around $2.1 billion more in equity value, compared with a $10 million bump in the midpoint for FY27 revenue guidance.
- At Monday’s close, buying back all 26.8 million shares would run about $332 million, wiping out roughly 79% of cash and investments on hand at the end of May.
- Analyst targets are now behind the stock. Google Finance listed an average target at $10.30, with the highest at $13.
BlackBerry Limited (NYSE:BB; TSE:BB) jumped 8.6% to $12.39 early Monday afternoon in New York, trading on heavier-than-normal volume. The move comes after last week’s rally following earnings faced a valuation check. MarketWatch put the shares at a 52-week high of $12.46, with the day’s range running $11.31 to $12.46 as of 2:06 p.m. EDT.
Monday trading went on as usual, with no holiday break. The NYSE’s 2026 calendar sets the next U.S. market closure for July 3, for Independence Day observed. In Canada, TMX will close July 1 for Canada Day.
BlackBerry’s move was driven by Index ETF proxies:
| Security | Latest price | Move |
|---|---|---|
| BlackBerry NYSE:BB | $12.39 | up 8.6% |
| SPDR S&P 500 ETF Trust (NYSEARCA:SPY) | $740.71 | up 1.6% |
| Invesco QQQ Trust NASDAQ:QQQ | $723.40 | up 2.4% |
| iShares Russell 2000 ETF (NYSEARCA:IWM) | $297.98 | down 0.6% |
Investors saw BlackBerry’s (BB) market cap jump around $2.1 billion in five days, way more than the $10 million bump in mid-point guidance. The company lifted its FY27 revenue forecast to $594 million–$621 million from $584 million–$611 million. Shares are up 40.9% over the past week, based on Monday’s price and the reported share count.
| Measure | Latest/guide | Investor read |
|---|---|---|
| Five-day stock gain | 40.9% | Stock move beats the increase in the guide |
| FY27 revenue guide midpoint change | +$10 mln | Midpoint up about 1.7% from before |
| Implied equity value added in five days | About $2.1 bln | That’s around 210 times the guide boost |
| Market value/FY27 revenue midpoint | About 12x | Not much room for an easy beat |
Buybacks look different now. BlackBerry picked up 2.6 million shares for $10 million last quarter, coming out to around $3.85 a share. At $12.39, the same buyback would cost $32.2 million. The company also said it has renewed its buyback for up to 26.8 million shares. It finished the quarter with $422.9 million in cash and investments.
| Buyback item | Calculation | Result |
|---|---|---|
| Q1 buyback price | $10 mln / 2.6 mln shares | Near $3.85 per share |
| Value of those shares at $12.39 | 2.6 mln x $12.39 | Roughly $32.2 mln |
| Difference from Q1 buyback spend | $32.2 mln – $10 mln | About $22.2 mln |
| Full $26.8 mln buyback at $12.39 | 26.8 mln x $12.39 | Comes out to about $332 mln |
| All buybacks to cash and investments | $332 mln / $422.9 mln | Close to 79% |
BlackBerry bulls got tangible numbers to back their case. First-quarter revenue came in at $152.9 million, up 26%. Adjusted EBITDA surged 144% to $36.3 million. QNX posted a 26% gain to $72.3 million, while Secure Communications revenue rose 24% to $73.6 million. GAAP net income stayed positive for the fifth quarter in a row at $8.5 million.
CEO John J. Giamatteo said in the release the “foundation of the business is stronger than it has been in years.” He told Reuters more QNX customers are moving toward “next-generation software defined vehicles” and said demand was “really healthy.” CFO Tim Foote told Reuters most Secure Communications revenue, and much of its pipeline, is tied to government clients. Reuters
Morningstar’s William Kerwin called BlackBerry’s QNX and Secure Communications units small on revenue but with “solid growth runways.” Kerwin said the firm likes how QNX is picking up steam as cars shift to more software. Stocktwits
Analyst targets are lagging the market price even as they move higher. According to Google Finance, out of six analysts, two rate the stock Buy and four rate it Hold, no Sells. The average 12-month price target is $10.30, with targets between $8 and $13.
| Analyst/source shown by Google Finance | Rating | Target | Gap to $12.39 |
|---|---|---|---|
| Todd Coupland at CIBC | Buy | $13.00 | +4.9% |
| Suthan Sukumar at Stifel Nicolaus | Buy | $12.00 | -3.1% |
| Kingsley Crane from Canaccord Genuity | Hold | $10.30 | -16.9% |
| Paul Treiber at RBC Capital | Hold | $9.00 | -27.4% |
| John Shao, TD Cowen | Hold | $8.00 | -35.4% |
| Average target | — | $10.30 | -16.9% |
This matters since the stock isn’t moving like a basic turnaround winner now. Traders are betting that QNX, software-defined vehicles, and secure government communications could drive more outlook hikes. BlackBerry is guiding Q2 revenue at $137 million to $148 million, and expects adjusted EBITDA between $20 million and $30 million.
