Analysis firm System Analytics has observed that autos featuring Blackberry’s (BB) QNX computer software now full 195 million, up 20 million year-around-12 months.
Canada-based mostly Blackberry supplies clever security computer software and services. BlackBerry’s QNX royalty profits backlog grew 9% yr-about-year to $490 million throughout the first quarter.
The company’s shares fell 2.7% in pre-sector trading on June 22. (See Blackberry inventory charts on TipRanks)
Government chairman and CEO of BlackBerry John Chen explained, “Achieving around 195 million motor vehicles marks the sixth consecutive year that this depend has increased. BlackBerry QNX is effectively-positioned to capitalize on the secular traits of higher basic safety-essential program in cars and trucks.”
RBC Cash analyst Paul Treiber just lately managed a Offer ranking on the stock with a price focus on of $7.50 (41.4% draw back possible).
Treiber mentioned the company’s shares have rallied because of trading dynamics and not because of enhanced fundamentals.
Total, the inventory has a Moderate Sell consensus score dependent on 2 Retains and 1 Promote. The ordinary Blackberry analyst cost concentrate on of $9 implies 30% draw back potential from existing levels. The company’s shares have obtained 150% in excess of the past yr.
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