BlackBerry
BB
has partnered with LeapXpert to enable the use of the BlackBerry Dynamics platform on popular messaging applications like WhatsApp, iMessage, WeChat, SMS, Telegram, Signal etc.
Organizations worldwide are using messaging applications to convey sensitive information to their customers as work from home has become a necessity. However, these applications are prone to hackers who look to exploit the loopholes in the security system to gain sensitive information.
BlackBerry Limited Price and Consensus
BlackBerry Limited price-consensus-chart
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BlackBerry Limited Quote
The collaboration will provide customers with secure storage for important information and data leakage protection. It will also ensure that employee-customer interactions are end-to-end encrypted and captured.
Blackberry continues to invest in its cyber security portfolio to tap the growing demand for this market. The company had launched BlackBerry Gateway and Optics 3.0, which is part of its Extended Detection and Response strategy.
Per a research from
Allied Market Research
, the global cyber security market is projected to reach $478.68 billion by 2030, at a CAGR of 9.5% from 2021 to 2030.
Recently, BlackBerry
partnered
with Alphabet’s Google to introduce Chrome Enterprise Management with BlackBerry’s Unified Endpoint Management. The new solution will extend enhanced security to various devices powered by Google’s Chrome OS and browsers.
Prior to that, Blackberry
announced
that 13 channel partners across the Asia-Pacific region will be offering BlackBerry Jarvis 2.0 to companies, aiding them to create secure systems amid increasing cyberattacks.
Headquartered in Waterloo, Canada, BlackBerry provides intelligent security software and services to enterprises and governments worldwide.
However, BlackBerry needs to invest heavily in research and development activities to introduce new products and fend off competition, which takes a heavy toll on its profitability. The global chip shortage faced by the auto industry due to supply chain troubles is an added concern.
The company
reported
an adjusted loss per share of 5 cents in first-quarter fiscal 2023, in line with the prior-year quarter’s levels. The Zacks Consensus Estimate was pegged at a loss of 6 cents per share. Quarterly total revenues declined 3.4% year over year to $168 million.
BlackBerry currently holds a Zacks Rank #4 (Sell). Shares of the company have lost 43% in the past year compared with the
industry’s
fall of 15.7%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are
Aspen Technology
AZPN
,
Synopsys
SNPS
and
Broadcom
AVGO
. Broadcom sports a Zacks Rank #1 (Strong Buy) whereas Aspen Technology and Synopsys carry a Zacks Rank #2 (Buy).You can see
the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Aspen Technology’s 2022 earnings is pegged at $5.49 per share, increasing 0.4% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.3%.
Aspen Technology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 4.1%. Shares of AZPN have soared 25.1% in the past year.
The Zacks Consensus Estimate for Synopsys 2022 earnings is pegged at $8.67 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 19.6%.
Synopsys earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 2.7%. Shares of SNPS have jumped 18.8% in the past year.
The Zacks Consensus Estimate for Broadcom’s fiscal 2022 earnings is pegged at $37.06 per share, up 3.9% in the past 60 days. AVGO’s expected long-term earnings growth rate is 14.5%.
Broadcom’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 2.2%. Shares of AVGO have gained 6.9% in the past year.
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