Stifel Reiterates Buy Rating on BlackBerry Limited (BB)
Stifel affirmed its buy rating for BlackBerry with a $12 target, a 16.05% upside from the current price.
Key Points
- Stifel reiterated its buy rating on BlackBerry Limited (NYSE:BB) with a price target of $12 on June 24, 2026.
- Stifel's $12 price target implies 16.05% upside from BlackBerry Limited's ($BB) current $10.34 share price.
- BlackBerry shares traded at $8.82 on Wednesday, with a market cap of approximately $5.15 billion and a P/E ratio of 97.67.
- Insiders recently purchased shares, and Stifel's reiteration aligns with other analysts' mixed ratings, including CIBC's buy and Canaccord's hold.
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Stifel reiterated its buy rating on BlackBerry Limited (NYSE:BB) on June 24, 2026, setting a price target of $12. The analyst, Suthan Sukumar, reaffirmed confidence in BlackBerry's potential, suggesting a positive outlook for the company's future.
Stifel vs. the S&P 500
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Other Institutional Activity in BlackBerry
Several institutional investors have made moves in BlackBerry. Legal & General Group PLC increased its holdings by 4,644,181 shares to a total of 34,867,912 shares, valued at about $112.68 million, marking a 15.4% increase. Fifthdelta Ltd significantly boosted its position by 8,850,571 shares, ending with 26,445,027 shares worth approximately $85.68 million, a 50.3% rise. Vanguard Capital Management LLC entered with a new position, acquiring 16,718,029 shares valued at $54.20 million. Conversely, Voya Investment Management LLC reduced its stake by 510,946 shares, now holding 25,664,963 shares valued at $83.15 million, a 2.0% decrease.
BlackBerry Limited Stock Up 26.7%
Shares of BlackBerry Limited traded around $8.82 on Wednesday. The company, with a market capitalization of about $5.15 billion, has a P/E ratio of 97.67 and a forward P/E of 44.32. BlackBerry's beta stands at 1.551, indicating higher volatility compared to the market. The stock's 52-week range spans from a low of $3.12 to a high of $10.93, with a 50-day moving average of $6.85 and a 200-day moving average of $4.70.
$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 achieved a net margin of 9.69% and a return on equity of 7.26%. 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 bought shares on May 31, 2026. Barry Mainz acquired 8,541 shares, Lisa Bahash purchased 8,889 shares, Wayne Wouters bought 8,750 shares, and both Lori O'Neill and Philip Brace acquired 8,750 shares each. Richard Lynch also bought 10,695 shares. These transactions were not part of any pre-planned trading programs.
Analysts Set New Price Targets
On June 24, 2026, Stifel initiated coverage with a buy rating and a $12 price target. CIBC maintained its buy rating with a $10 target on June 17, 2026. Meanwhile, Canaccord Genuity maintained a hold rating with a $4.4 target on April 10, 2026. The consensus among analysts is a hold rating, with a mean price target of $5.44 based on six opinions.
About BlackBerry Limited
BlackBerry Limited, headquartered in Waterloo, Canada, provides intelligent software and services to businesses and governments worldwide. The company operates in the technology sector, specifically in the software infrastructure industry. Led by CEO John Joseph Giamatteo, BlackBerry employs around 1,749 people. It offers a range of products, including secure communications, enterprise file sharing, and endpoint management solutions.
Bottom Line
Stifel's reiteration of a buy rating with a $12 target reflects confidence in BlackBerry's strategic direction. While BlackBerry's stock trades at a premium with a high P/E ratio, its recent insider buying may signal internal confidence. Investors should note that analyst ratings provide varied perspectives, with some maintaining a hold stance.
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