After Hours Most Active for Nov 8, 2024 : BB, PLTR, NOVA, F, BAC, CHWY
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 08 2024
0mins
Source: NASDAQ.COM
NASDAQ 100 After Hours Performance: The NASDAQ 100 is up 9.07 points to 21,126.25 with a total after-hours volume of 124,357,157 shares traded, featuring active stocks like BlackBerry, Palantir, and Sunnova Energy.
Stock Highlights: Notable movements include BlackBerry at $2.33 (77.67% of target price), Palantir at $58.40 (52-week high), and Bank of America maintaining its price at $45.13 with positive earnings forecast revisions.
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Analyst Views on BB
Wall Street analysts forecast BB stock price to fall
4 Analyst Rating
1 Buy
3 Hold
0 Sell
Hold
Current: 9.170
Low
4.50
Averages
5.03
High
6.00
Current: 9.170
Low
4.50
Averages
5.03
High
6.00
About BB
BlackBerry Limited is a Canada-based company, which provides enterprises and governments the intelligent software and services. The Company delivers operational resiliency with the certified product portfolio for mobile fortification, mission-critical communications, and critical events management. It operates in three segments: QNX, Secure Communications, and Licensing. The QNX segment consists of the QNX business, BlackBerry Certicom, and BlackBerry Radar. The Secure Communications segment consists of BlackBerry UEM solutions, BlackBerry AtHoc, and BlackBerry SecuSUITE. Its endpoint management platform includes BlackBerry UEM, BlackBerry Dynamics, BlackBerry Workspaces solutions, and BlackBerry Messenger (BBM) Enterprise. The Licensing segment consists of the Company’s intellectual property arrangements and settlement awards. Its BlackBerry Radar is a family of asset monitoring and telematics solutions for the transportation and logistics industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Valuation Risks: BlackBerry's current P/E ratio stands at 103.3x, significantly higher than the fair ratio of 29.4x, suggesting that the market is paying a premium for its growth narrative, which introduces clear valuation risks if future growth does not meet expectations.
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- Market Dynamics: In the past two weeks, traditional companies like IBM, BlackBerry, and Hewlett Packard have shown meme stock-like volatility, with IBM adding $150 million in market cap within 10 hours, indicating a shift in market sentiment.
- Profitability Concerns in AI: While users of AI products may see substantial margin improvements, Melker expresses doubts about the long-term profitability of these AI companies, suggesting they may struggle to achieve sustainable earnings.
- Bitcoin Market Status: Melker notes that Bitcoin's appeal has waned, remaining stagnant at $63 despite positive news, indicating a lack of genuine buyers and reflecting diminished confidence in the cryptocurrency market.
See More
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See More
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- Nokia's AI Infrastructure Growth: In Q1 2026, Nokia secured €1 billion in AI and cloud orders, with AI and cloud revenue rising 49% year-over-year, indicating strong demand in AI networking infrastructure; however, analysts remain cautious with an average price target of $11.38, suggesting a 34% downside risk.
- BlackBerry's QNX System Advantage: BlackBerry's QNX real-time operating system powers critical systems in 275 million vehicles globally, and despite competition, the company believes its uniqueness in safety-critical applications is hard to replicate, with a $950 million royalty backlog indicating future growth potential.
- Market Sentiment and Stock Performance: Despite Nokia and BlackBerry's stock prices rising 219% and 156% respectively, significantly outperforming the S&P 500's 27% increase, market sentiment remains cautious, particularly for BlackBerry, which has an average price target of $4.18, implying a 59% downside risk.
- Retail Investor Optimism: On Stocktwits, retail sentiment for BlackBerry is rated as 'extremely bullish', while Nokia is rated 'bullish', with message volume surging 1,365% for BlackBerry and 2,954% for Nokia over the past three months, reflecting strong investor interest in both companies.
See More
