CIBC Reiterates Buy Rating for BlackBerry
CIBC maintains its buy rating on BlackBerry, setting a $13 price target, a 4.17% upside from the current price.
Key Points
- CIBC reiterated its buy rating on BlackBerry Limited with a price target of $13 as of June 26, 2026.
- CIBC's $13 price target implies 4.17% upside from BlackBerry Limited's ($BB) current $12.48 share price.
- BlackBerry's stock traded at $10.34 on Friday, with a market cap of about $6.06 billion and a P/E ratio of 103.4.
- Analyst opinions on BlackBerry are mixed, with a target mean price of $6.43 and a consensus hold recommendation.
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CIBC has reiterated its buy rating on BlackBerry Limited (NYSE:BB), with analyst Todd Coupland maintaining a price target of $13. This update came on June 26, 2026. Shares of BlackBerry traded at $10.34 on Friday.
Other Institutional Activity in BlackBerry
Among other institutional investors, Legal & General Group PLC increased its holdings by 4,644,181 shares, bringing its total to 34,867,912 shares valued at approximately $112.68 million, marking a 15.4% increase. FifthDelta Ltd also boosted its position by 8,850,571 shares to 26,445,027 shares worth about $85.68 million, reflecting a 50.3% rise. On the other hand, Voya Investment Management LLC slightly reduced its stake by 510,946 shares, holding 25,664,963 shares valued at $83.15 million, a 2.0% decrease. Vanguard Capital Management LLC opened a new position with 16,718,029 shares valued at around $54.2 million.
BlackBerry Limited Stock Up 52.9%
Shares of BlackBerry Limited traded near $10.34 on Friday. The company boasts a market cap of approximately $6.06 billion and has a P/E ratio of 103.4. The stock's 52-week range is between $3.12 and $10.93, with a 50-day moving average of $7.27 and a 200-day moving average of $4.81. BlackBerry has a beta of 1.551, indicating higher volatility compared to the market. Its 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
In its most recent earnings, BlackBerry reported revenue of $549.1 million, showing a revenue growth of 10.1%. The company achieved a net margin of 9.69% and a return on equity of 7.26%. BlackBerry's earnings per share came in at $0.10. The next earnings report is expected 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
Several insiders at BlackBerry made purchases on May 31, 2026. Barry Mainz acquired 8,541 shares, Lisa Bahash bought 8,889 shares, and Wayne Wouters purchased 8,750 shares. Additionally, Lori O'Neill and Philip Brace each bought 8,750 shares, while Richard Lynch acquired 10,695 shares. These transactions were not part of a pre-planned 10b5-1 trading plan.
Analysts Set New Price Targets
On June 26, 2026, CIBC maintained its buy rating on BlackBerry with a price target of $13. On the same day, Canaccord Genuity reiterated a hold rating, setting a target of $10.3. Earlier, on June 24, Canaccord Genuity maintained a hold rating with a target of $8.2, while Stifel initiated coverage with a buy rating and a $12 target. The consensus among analysts is a hold rating, with a target mean price of $6.43 based on six analyst opinions.
About BlackBerry Limited
BlackBerry Limited, headquartered in Waterloo, Ontario, provides intelligent software and services to businesses and governments worldwide. The company operates through segments like Secure Communications and QNX, offering solutions such as BlackBerry Dynamics for mobile applications and BlackBerry Workspaces for secure file sharing. Led by CEO John Joseph Giamatteo, BlackBerry employs around 1,749 people and focuses on secure communications, critical event management, and enterprise consulting services.
Bottom Line
CIBC's reiteration of a buy rating with a $13 target for BlackBerry reflects ongoing interest in the company's stock. BlackBerry's recent trading activity and analyst opinions indicate a mixed outlook, with the stock trading near its 52-week high. Investors often track these updates to gauge market sentiment and potential future performance, though it's important to remember that analyst ratings are just one piece of the puzzle.
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