CIBC Reiterates Buy Rating on BlackBerry
CIBC maintains its buy rating on BlackBerry with a $10 target, a 13.38% upside from the current price.
Key Points
- CIBC reiterated its buy rating on BlackBerry, setting a price target of $10 on June 17, 2026.
- CIBC's $10 price target implies 13.38% upside from BlackBerry Limited's ($BB) current $8.82 share price.
- BlackBerry shares are trading at $9.17 with a market cap of $5.37 billion and a P/E ratio of 101.9.
- Insiders recently bought shares, and analysts have mixed ratings with a consensus hold recommendation.
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CIBC has reaffirmed its positive outlook on BlackBerry Limited (NYSE:BB) by maintaining a buy rating and setting a price target of $10. This analyst update comes as BlackBerry's shares are trading around $9.17.
Other Institutional Activity in BlackBerry
Several other institutional investors have been active in BlackBerry's stock. Legal & General Group PLC increased its stake by 4,644,181 shares, bringing its total to 34,867,912 shares valued at approximately $112.7 million. FifthDelta Ltd also boosted its holdings significantly by 8,850,571 shares, ending with 26,445,027 shares worth about $85.7 million. Conversely, Voya Investment Management LLC slightly reduced its position by 510,946 shares, now holding 25,664,963 shares valued at around $83.2 million.
BlackBerry Limited Stock Up 8.1%
Shares of BlackBerry are trading near $9.17. The company holds a market cap of about $5.37 billion and a P/E ratio of 101.9, with a forward P/E of 45.5. Its beta is 1.551, indicating somewhat higher volatility compared to the market. The stock's 52-week range spans from $3.12 to $10.93, with a 50-day moving average of $6.65 and a 200-day moving average of $4.65. BlackBerry's current ratio stands at 2.119, and its quick ratio is 1.962, with a debt-to-equity ratio of 30.134.
$BB price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
BlackBerry reported revenue of $549.1 million with a growth rate of 10.1%. The company's net margin is 9.7%, and the return on equity (ROE) is 7.3%. Earnings per share (EPS) came in at $0.09. BlackBerry is set to release its next earnings report on June 25, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
Analyst view held steady after the report.
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EPS & revenue
EPS beat estimates by 38.9%. Revenue beat estimates by 10.8%.
- Profit surprise
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Pre-earnings setup
Expectations were about average going in.
- Analyst signal
- Earnings quality
Earnings Call Summary
BlackBerry delivered a strong second quarter with total revenue of $129.6 million, up 3 percent year over year, and all three divisions beat guidance. QNX revenue hit $63.1 million with 15 percent growth and 32 percent EBITDA margin, driven by royalties and new design wins including a mid-eight-figure ADAS deal in China. The company achieved positive cash flow of $3.4 million despite paying $19 million in back taxes, and management noted that the pause in automotive programs appears to be ending with more momentum expected in the second half of the year.
Guidance They raised full-year revenue to between $519 billion and $541 million, up from earlier guidance, driven by strength in QNX and Secure Communications. They expect third quarter revenue between $132 million and $140 million, with the company planning to generate $35 to $40 million in operating cash flow for the full year plus an additional $38 million from a prior sale.
Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.
Insider Buying and Selling at BlackBerry Limited
Insider activity at BlackBerry has been notable, with several insiders purchasing shares. On May 31, 2026, Barry Mainz acquired 8,541 shares, Lisa Bahash bought 8,889 shares, and Wayne Wouters added 8,750 shares to their holdings. Other insiders such as Lori O'Neill, Philip Brace, and Richard Lynch also made similar purchases.
Analysts Set New Price Targets
On June 17, 2026, CIBC maintained its buy rating on BlackBerry with a price target of $10. Canaccord Genuity, on April 10, 2026, maintained a hold rating with a target of $4.4, while RBC Capital reiterated a hold rating with a target of $4.5 on the same day. Overall, the consensus among analysts is a hold recommendation, with an average price target of $5.16 from seven analysts.
About BlackBerry
BlackBerry Limited, based in Waterloo, Canada, provides intelligent software and services for enterprises and governments globally. Operating through segments like Secure Communications and QNX, BlackBerry offers secure mobile application platforms, enterprise file sync solutions, and secure messaging. The company also provides endpoint management, cryptography, and consulting services. Led by CEO John Joseph Giamatteo, BlackBerry employs around 1,749 people.
Bottom Line
CIBC's reiterated buy rating on BlackBerry reflects ongoing confidence in the company's performance. With shares trading near $9.17 and the market cap at $5.37 billion, BlackBerry remains a significant player in the technology sector. However, investors should note that these analyst ratings are based on past data and do not necessarily indicate future performance.
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