Movement Alert｜BlackBerry Rises 5.34% in Regular Trading, Beat-and-Raise Quarter Combined with Raymond James Target Price Upgrade Extends Rally

Market Focus06-29 23:33

On June 29, BlackBerry rose 5.34% in regular trading, trading at approximately $12.00/share, with turnover of $2.49 billion.

On the news front, BlackBerry continues to benefit from the momentum generated by its FY2027 first-quarter earnings report and a significant analyst upgrade. The company reported total revenue of $152.9 million, up 26% year-over-year and well above the consensus estimate of $138 million. Adjusted EPS came in at $0.04, also beating expectations. The core QNX division delivered revenue of $72.3 million, surging nearly 26%, underscoring sustained growth in its embedded systems platform now deployed across over 275 million vehicles.

Additionally, Raymond James doubled its target price on BlackBerry from $4.75 to $9.50, reflecting a fundamental reassessment of the company's business outlook. Despite the stock trading above the upgraded target, the combination of strong earnings execution and institutional re-rating continues to bolster investor confidence, extending the post-earnings rally into its third consecutive session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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