New York, June 14, 2026, 10:37 ET
- BlackBerry ended Friday at $9.19, off 1.08%. That came as most big U.S. indexes gained.
- BlackBerry’s fiscal Q1 2027 earnings are up next, set for June 25.
- QNX is growing, which helps the bull case. But with where the stock is trading and what analysts expect, valuation looks stretched.
BlackBerry Ltd. closed down 1.08% at $9.19 on Friday, trading between $9.05 and $9.50, with volume near 22.2 million shares. The move came as the S&P 500 gained 0.5%, the Dow rose 0.7% and the Nasdaq was up 0.3%, AP market data showed.
BlackBerry’s move matters now because it’s seen as a turnaround software trade, not just a legacy tech name. Stocks usually climb when investors see more earnings or higher growth ahead, and they can slide when worries about valuation or profit-taking start to outweigh recent gains. BlackBerry shares fell Friday after a big run this year—MarketBeat data has the stock up 142.7% for 2026 so far, trading close to its 52-week highs.
BlackBerry’s next big move comes June 25, when it reports fiscal Q1 2027 results for the period ended May 31. The company said it will hold its earnings call at 8:00 a.m. ET, then plans a virtual annual meeting at 10:00 a.m. ET. Both events land the same morning for investors.
QNX is at the center of the bull case for BlackBerry. The company’s embedded software arm is used in cars and other key systems. BlackBerry reported a 20% jump in QNX revenue last quarter, hitting a record $78.7 million. The QNX royalty backlog climbed to around $950 million. Adjusted EBITDA for the full company rose 71% to $36.1 million, stripping out interest, taxes, depreciation, amortization and some other costs. CEO John J. Giamatteo said, “We are no longer a company in transition.” accessnewswire.com
BlackBerry is betting that its focus on regulated, safety-critical markets gives it an edge. The company says its software is hard to replace and that customers mostly stick around. “Our business is much more immune to ‘SaaSmageddon’ because these are highly regulated, complex, mission-critical solutions,” CEO Giamatteo told Reuters. In April, BlackBerry projected fiscal 2027 revenue between $584 million and $611 million, with total adjusted EBITDA of $110 million to $130 million, signaling that management expects the turnaround to keep adding growth and cash flow. Reuters
Valuation is the main bear argument here. MarketBeat puts BlackBerry at a consensus “Hold” with 7 holds and 1 buy; the average target is just $4.88, sitting well under the current price. They show a trailing P/E ratio near 115. That’s the price divided by earnings per share, so investors are paying up for these profits. The beta clocks in at 2.29—this one usually moves harder than the market, upping the risk if you buy in after a big run. MarketBeat
BlackBerry isn’t looking cheap at today’s price, and the shares seem more risky than attractive or fairly valued. The June 25 report could help keep the rally going if Q1 revenue tops the company’s $132 million to $140 million forecast, QNX comes in at or above the $60 million to $64 million range, and cash flow sticks close to the breakeven to $10 million estimate. If numbers fall short, management turns cautious on automotive software, or analysts don’t boost their targets, the stock could come under pressure since expectations are already high.
