Earnings Report: BlackBerry reported third-quarter revenue of $141.8 million and adjusted earnings of 5 cents per share, both exceeding analyst expectations, and raised its fiscal 2026 revenue guidance to $531-$541 million.
Investor Reaction: Despite the positive earnings, BlackBerry's stock fell 11.09% as investors expressed concern over slowing growth in its QNX segment, overshadowing the company's profitability and performance in Secure Communications.
Analyst Insights: RBC Capital Markets analyst Paul Treiber maintained a Sector Perform rating on BlackBerry, noting that the revenue beat was largely due to one-time gains in Secure Communications rather than sustained growth in QNX.
Growth Concerns: QNX revenue growth slowed to 10% year-over-year, falling short of expectations, and fourth-quarter guidance indicates a deceleration in growth, raising concerns about the company's future growth trajectory.
Wall Street analysts forecast BB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BB is 5.12 USD with a low forecast of 4.50 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
Wall Street analysts forecast BB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BB is 5.12 USD with a low forecast of 4.50 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Buy
4 Hold
0 Sell
Hold
Current: 3.920
Low
4.50
Averages
5.12
High
6.00
Current: 3.920
Low
4.50
Averages
5.12
High
6.00
RBC Capital
Paul Treiber
Sector Perform
maintain
$4
Al Analysis
2025-09-26
Reason
RBC Capital
Paul Treiber
Price Target
$4
Al Analysis
2025-09-26
maintain
Sector Perform
Reason
RBC Capital analyst Paul Treiber raised the firm's price target on BlackBerry to $4.50 from $4 and keeps a Sector Perform rating on the shares. The company reported Q2 above consensus estimates and raised FY26 guidance, with the upside reflecting demand stabilization following macro/tariff uncertainty at the start of the year, the analyst tells investors in a research note. QNX design win momentum also rebounded in Q2, which improves visibility to sustained QNX growth, the firm added.
Baird
Neutral
maintain
$5
2025-09-26
Reason
Baird
Price Target
$5
2025-09-26
maintain
Neutral
Reason
Baird raised the firm's price target on BlackBerry to $5.50 from $5 and keeps a Neutral rating on the shares. The firm updated it model following Q2 results which suggest its improvement is continuing.
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Canaccord
Hold
maintain
2025-06-25
Reason
Canaccord
Price Target
2025-06-25
maintain
Hold
Reason
Canaccord raised the firm's price target on BlackBerry to $4.60 from $4.25 and keeps a Hold rating on the shares. The firm noted they reported Q1/F26 results meaningfully ahead of expectations, highlighted by strong IoT/QNX results, which continues to be the standout leader within the business. Canaccord said the outlook for the business has certainly improved over the past year. Strategic initiatives will be incrementally streamlined and meaningfully positive adj. EBITDA creates new organic and inorganic investment opportunities.
Baird
Neutral
maintain
$4 -> $5
2025-06-25
Reason
Baird
Price Target
$4 -> $5
2025-06-25
maintain
Neutral
Reason
Baird raised the firm's price target on BlackBerry to $5 from $4 and keeps a Neutral rating on the shares. The firm updated its model following Q1 results which beat estimates and provided inline guidance. Baird said the QNX future still appears bright.
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.
