Updated: December 7, 2025
BlackBerry Limited (NYSE: BB, TSX: BB) heads into mid-December 2025 as a lean software company focused on cybersecurity and automotive/IoT – and its stock is quietly back on investors’ radar.
After a solid Q2 FY2026, a new QNX win with a major Chinese EV maker, and fresh institutional buying disclosed today, BlackBerry’s share price is hovering around the mid-$4 range while the market waits for its next earnings catalyst on December 18, 2025. Stock Titan
Where BlackBerry Stock Stands on December 7, 2025
- Latest price: BlackBerry closed around $4.32–$4.34 on Friday, December 5, 2025, up about 1.6% on the day and roughly 9% higher than the $3.98 level seen at the start of the week. Intellectia
- Market cap: About $2.5–2.6 billion. Stocktwits
- 52‑week range: Roughly $2.5 to $6.2 per share, underscoring how volatile BB has been over the past year. StockAnalysis
- Volume: Recent average volume sits around 8.5 million shares per day, with about 5.1 million shares trading hands in the latest session. Stocktwits
Technical screens are mixed but tilting cautiously positive. Intellectia’s technical engine notes that BB is in a rising short-term trend, with resistance around $4.40–$4.56 and support near $3.88 and $3.72. A break above resistance would trigger fresh buy signals, while a drop below support would flip signals to “sell.” Intellectia
In other words, the stock is:
- Off its lows and trying to build a base above $4
- Still well below its 52‑week high
- Trading in a narrow but important technical band just below resistance
Q2 FY2026: Second Straight Profitable Quarter and Another Guidance Hike
The foundation for the current move in BlackBerry stock was laid with Q2 FY2026 results, released on September 25, 2025.
Key Q2 FY2026 numbers
According to BlackBerry’s filings and analyst write‑ups: GuruFocus
- Revenue: $129.6 million
- Up 3% year‑on‑year (from $126.2m)
- Below a consensus estimate around $169.6m, so a revenue miss
- Profitability:
- GAAP net income: $13.3 million vs a loss of $19.7m a year earlier
- GAAP EPS: $0.02
- Non‑GAAP EPS: $0.04, beating estimates of $0.01
- Margins and cash:
- Gross margin improved by 4 percentage points to 75%
- Operating cash flow: + $3.4 million
- Cash and investments: $363.5 million after buybacks
By segment: GuruFocus
- QNX (IoT & automotive):
- Revenue $63.1m, up 15% year‑on‑year
- Achieved a “Rule of 40” quarter (growth + margin ≥ 40%)
- Secure Communications (cybersecurity & UEM):
- Revenue $59.9m, down about 10% year‑on‑year
- Adjusted gross margin improved to 66%
This was BlackBerry’s second consecutive quarter of GAAP profitability, reinforcing the narrative that the pivot from devices to software is finally showing up in the P&L. GuruFocus
FY2026 outlook raised – again
BlackBerry used the Q2 print to raise full‑year FY2026 guidance:
- Total FY2026 revenue:
- New range: $519–$541 million
- Up from prior guidance around $508–$538 million, which itself had been an upward revision earlier in the year. Stock Titan
- Adjusted FY2026 EBITDA:
- Guided to $82–$101 million. Stock Titan
- Segment targets (FY2026):
- QNX: $250–$270 million
- Secure Communications: $234–$244 million Finimize
The message to markets: QNX is growing quickly, cybersecurity is stabilising, and the overall business is turning into a high‑margin, mostly recurring‑revenue software platform (around 96% recurring revenue heading into FY2026). Finimize
QNX’s New Luxury EV Win in China
One of the biggest product headlines this week comes from BlackBerry’s QNX division.
On December 2, 2025, QNX announced that a leading Chinese automaker has selected QNX® Sound, its software‑defined audio platform, for a next‑generation luxury EV lineup launching in 2026. ACCESS Newswire
Highlights from the Accesswire release:
- The QNX Sound platform can deliver:
- Hardware cost savings of $21–$98 per vehicle
- PCB area reductions up to 44%
- Weight savings up to 28% – valuable for EV range and efficiency ACCESS Newswire
- The product recently won a “Product of the Year” award at the 2025 International Sound Awards. ACCESS Newswire
- QNX technology is already deployed in more than 255 million vehicles worldwide, spanning digital cockpits, ADAS and infotainment systems. ACCESS Newswire
This design win reinforces QNX’s role as a behind‑the‑scenes standard in software‑defined vehicles and adds to the EV growth story that many investors see as the core of the BlackBerry stock bull case.
Simply Wall St’s latest narrative (December 6, 2025) emphasises that the EV spotlight on QNX Sound and BlackBerry’s cybersecurity offerings fits the long‑term thesis, but argues that near‑term upside still depends more on delivering against FY2026 guidance and demonstrating sustainable earnings quality rather than one‑off product headlines. Simply Wall St
Earnings Calendar: December 18 Q3 FY2026 Call Is the Next Catalyst
BlackBerry has already set dates for upcoming earnings, giving investors clear near‑term catalysts:
- Q3 FY2026 earnings call:
- Date: December 18, 2025
- Time: 5:30 p.m. ET
- Access via webcast or dial‑in from the investor relations site. Investing News Network (INN)
The company also published a schedule of planned earnings dates through FY2027, with Q4 FY2026 currently pencilled in for April 9, 2026 (subject to confirmation closer to the date). Investing News Network (INN)
For Q3 FY2026, markets will be watching:
- Whether QNX and Secure Communications continue to track toward the raised FY2026 targets
- Any updates on the planned IoT spin‑off, which Finimize flagged as a potential value‑unlocking event for FY2027 Finimize
- Commentary on the Chinese EV design win and broader automotive pipeline
- The trajectory of cybersecurity deal flow and customer retention
Big Money Is Moving: Fresh Institutional Buying and Insider Activity
Marshall Wace and First Trust increase stakes
On December 7, 2025, new 13F‑based analyses from MarketBeat highlighted sizeable institutional buying in BlackBerry during Q2:
- Marshall Wace LLP
- Increased its stake by 21,832.6% in Q2
- Now holds 8.86 million shares, about 1.49% of the company, valued at roughly $40.6 million MarketBeat
- First Trust Advisors LP
- Boosted its position by 5.0% in Q2
- Now owns 15.75 million shares, roughly 2.65% of the company, valued around $72.1 million MarketBeat
MarketBeat notes that, taken together with positions from firms like Voya Investment Management and Connor Clark & Lunn, institutions control roughly 54% of BlackBerry’s float, while insiders hold around 0.37% after some modest selling over the past 90 days. MarketBeat
Institutional ownership does not guarantee future performance, but it does suggest BB has the attention of large, sophisticated investors who are willing to commit substantial capital to the turnaround story.
Insider signal: director share units
Separately, a Form 4 filed with U.S. regulators shows director Richard Lynch acquired 24,050 Deferred Share Units (DSUs) on November 30, 2025, each DSU being the economic equivalent of one common share of BlackBerry. Stock Titan
The purchase is relatively small in dollar terms but adds a modestly positive insider‑alignment datapoint heading into the next earnings report.
How Wall Street Rates BlackBerry Stock Right Now
Across traditional sell‑side coverage, BlackBerry sits firmly in “show me” territory.
Analyst ratings and price targets
- Consensus rating:Hold
- Roughly 1 Buy, 6 Hold, 1 Sell, according to both MarketBeat and other aggregators. Public
- Average 12‑month price target: around $4.98–$5.10, implying roughly 15% upside from current levels around $4.3. StockAnalysis
Finimize notes that BB trades at an EV/Sales multiple of about 4.8×, slightly above its own five‑year average and near broader market levels, but still cheaper than many pure‑play cybersecurity peers – part of the reason some analysts at Barclays and CIBC argue the stock could be undervalued relative to its niche in cybersecurity and automotive IoT. Finimize
What AI and Quant Models Are Saying About BB
A notable twist in 2025 is the number of AI‑driven platforms weighing in on BlackBerry’s prospects.
Short‑term technical & price‑path forecasts
- Intellectia.ai
- Classifies BB as a “Strong Buy candidate” based on technical signals, moving averages, short interest data and pattern matching.
- Projects:
- 1‑day price: $4.26 (slight dip)
- 1‑week: $4.36
- 1‑month: $4.57
- 2026: $3.60 (down ~17% from current levels)
- 2030: $3.00 (down ~30%) Intellectia
- The model emphasises improving short‑term momentum but a more cautious long‑term trajectory.
AI probability of beating the market
- Danelfin
- Assigns BlackBerry an AI Score of 6/10 (Hold).
- Estimates BB has a 56.31% chance of beating the S&P 500 over the next three months, a +2.67 percentage‑point advantage over the average U.S. stock. Danelfin AI
- Scores:
- Fundamental: 6
- Technical: 6
- Sentiment: 5
- Danelfin classifies the stock as “Low Risk” within the Information Technology sector, ranking it 283rd of 646 IT names and 63rd of 236 software stocks. Danelfin AI
Valuation dispersion and disagreement
Simply Wall St highlights just how divisive BB’s valuation is: among 19 community fair‑value estimates, targets range from about US$3.46 all the way above US$100 per share, with some models suggesting the stock might even be worth 42% less than the current price based on conservative assumptions. Simply Wall St
The takeaway: models and analysts broadly agree that BlackBerry is no longer a deep value play, but they strongly disagree on how much of the turnaround is already priced in.
The Big Picture: BlackBerry’s Turnaround Story in 2025
To understand where BB stock could go next, it helps to zoom out.
From phones to software
BlackBerry’s evolution from smartphone icon to software player is well‑documented:
- The company exited internal smartphone hardware development in 2016 and fully decommissioned legacy phone services by early 2022. Businessday NG
- It doubled down on enterprise security and IoT, anchored by the 2010 acquisition of QNX and later the Cylance cybersecurity deal. Businessday NG
- Today, BlackBerry generates revenue primarily from:
- Cybersecurity & Secure Communications (UEM, secure communications, critical event management)
- QNX embedded software for automotive and industrial markets
- Licensing and IP monetisation
Both BusinessDay and other long‑form analyses describe BlackBerry as a textbook pivot: a defunct hardware leader re‑emerging as a profitable, niche software vendor in two high‑growth areas – cybersecurity and automotive IoT. Businessday NG
Key themes for investors heading into 2026
Looking ahead, the BB story revolves around a few critical themes:
- Execution on raised FY2026 guidance
- Maintaining profitability while hitting the $519–$541m revenue target will be central to any multiple re‑rating. Stock Titan
- Scaling QNX in EVs and software‑defined vehicles
- The new Chinese luxury EV deal is a strong datapoint, but investors will want to see it translate into sustained QNX revenue growth. ACCESS Newswire
- Cybersecurity growth and competition
- Demand for cybersecurity remains robust globally, but BlackBerry faces heavyweight competition from the likes of CrowdStrike and Palo Alto Networks and must prove it can grow share while protecting margins. The Star
- IoT spin‑off and capital allocation
- Markets are watching closely for more detail on a potential IoT spin‑off, as well as the balance between R&D, M&A, and share buybacks funded by BlackBerry’s net cash position. Finimize
- Volatility and sentiment
- With a beta around 1.0–1.6 and recent annualised volatility near 34%, BB remains a bumpy ride that can swing harder than the broader market on both good and bad news. Finimize
Bottom Line: Is BlackBerry Stock a Buy, Hold or Sell in December 2025?
On December 7, 2025, BlackBerry stock sits at an interesting crossroads:
- The company is profitable, has raised guidance, and is building momentum in QNX‑powered EVs and cybersecurity. The Star
- Wall Street’s consensus is “Hold”, with modest upside based on current price targets. StockAnalysis
- AI and quant platforms offer a nuanced view – positive short‑term signals, but a wide range of longer‑term price projections. Intellectia
- Large institutional investors have been adding significantly to their positions, while at least one director has increased personal exposure through DSUs. MarketBeat
For now, BlackBerry looks like a show‑me turnaround stock: the pieces are in place – a net cash balance sheet, high recurring revenue, and a credible niche in EV and cybersecurity – but the market is waiting to see sustained revenue acceleration and consistently strong execution.
As always, this article is for informational purposes only and is not investment advice. Anyone considering BB should carefully assess their own risk tolerance, time horizon and portfolio needs, and, where appropriate, consult a qualified financial adviser.
