TORONTO, June 24, 2026, 19:01 EDT
- BlackBerry closed at $8.62 on the NYSE, dropping 2.3%. The stock reached as high as $9.37 during the session, then was quoted at $9.09 late in after-hours trading.
- Stifel launched coverage of BlackBerry with a Buy rating and set a $12 price target. That’s well above the consensus, which is at $6.87.
- Trading in BlackBerry on the NYSE hit 38.3 million shares, well over the company’s 26.8 million-share buyback limit.
BlackBerry Limited (NYSE:BB; TSE:BB) shares fell Wednesday, despite Stifel turning bullish on the name. The drop puts focus back on the stock’s out-of-line analyst split a day ahead of its fiscal Q1 earnings.
Shares in the U.S. finished at $8.62, losing 20 cents. The stock hit a session high of $9.37 earlier. In after-hours trade, it was at $9.09, up 5.45% from the close. About 38.3 million shares changed hands, or 137% of its 65-day average, according to .
Here’s the kicker: NYSE turnover on Wednesday ran about 43% higher than BlackBerry’s 26,785,714-share buyback plan renewed in May. That puts BlackBerry’s capital return program in sharp perspective—now small next to just one day of heavy, event-driven action in the stock.
Stifel’s Suthan Sukumar began coverage of BlackBerry with a Buy and set a $12 price target. Sukumar said the market “still misdefines” BlackBerry after the stock’s 130% year-to-date jump. He called BlackBerry a “mission-critical software layer” in physical AI, TheFly reports. TipRanks
The $12 target is roughly 39% higher than where shares finished on Wednesday. The average target across the board is $6.87, which is about 20% under the close. High is $12, low is $4.50. Canaccord Genuity’s most recent rating from June 24 was Hold, putting the target at $8.20, according to Benzinga data.
BlackBerry’s split centers on QNX. In April, the company said its QNX royalty backlog climbed to about $950 million, putting it at roughly 3.5 times QNX’s fiscal 2026 revenue of $268 million. QNX revenue in the fourth quarter was up 20% to $78.7 million. Secure Communications brought in $72.5 million for the quarter, an 8% gain.
Valuation is part of the story. BlackBerry is valued at about $5.1 billion at Wednesday’s close. The company’s fiscal 2027 revenue guidance sits at a midpoint of $597.5 million, which means the shares were trading at almost 8.6 times guided revenue ahead of Thursday’s earnings release.
BlackBerry is forecasting first-quarter revenue between $132 million and $140 million, with adjusted EBITDA from $14 million to $22 million. The company said it sees non-GAAP basic earnings in a range of 2 cents to 3 cents per share. BlackBerry also projected about $100 million in operating cash flow for fiscal 2027.
BlackBerry Chief Executive John J. Giamatteo told investors in April, “We are no longer a company in transition.” The remarks came after the company reported 10% revenue growth for its fourth quarter and said GAAP net income improved for the eighth quarter in a row. Access Newswire
BlackBerry will release fiscal Q1 2027 numbers covering the period ended May 31 before the bell on Thursday, with results expected at 8:00 a.m. ET. The company also plans to hold its annual meeting at 10:00 a.m. ET.
