What Makes BlackBerry (BB) a Promising Investment Option?

Christel Deskins

Despite the coronavirus-induced market volatility, earnings estimates for the current and next fiscal for BlackBerry Limited BB have increased 116.7% and 11.1%, respectively, over the past 90 days. With healthy fundamentals, this Zacks Rank #1 (Strong Buy) stock appears to be a solid investment option at the moment. You can […]

Despite the coronavirus-induced market volatility, earnings estimates for the current and next fiscal for BlackBerry Limited BB have increased 116.7% and 11.1%, respectively, over the past 90 days. With healthy fundamentals, this Zacks Rank #1 (Strong Buy) stock appears to be a solid investment option at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.

Growth Drivers

Notwithstanding the challenging macroeconomic conditions, BlackBerry continues to invest in product development and go-to-market strategy, including strong channel partnerships, to drive long-term sustainable growth. The company is capitalizing on the secular trends of securing and connecting endpoints. It enables Enterprise of Things by providing the technology that allows endpoints to trust one another, communicate securely and maintain privacy. Solid software sales continue to aid the company while growth in its cybersecurity business remains a huge positive.

As a leading player in the enterprise mobility management, BlackBerry is widely recognized for productivity and security innovations. The company offers one of the most secure mobile enterprise solutions in the market through a broad portfolio of products and services. It offers an end-to-end software and services platform for the Enterprise of Things, which includes computers, vehicles, sensors, equipment and other connected endpoints within the enterprise that communicate with each other to enable smart business processes.

With a holistic growth model, focusing both on organic and inorganic initiatives, BlackBerry aims to expand its market leadership in the enterprise mobility segment. The company leverages many elements of its extensive technology portfolio to extend best-in-class security and reliability to its solutions for the Enterprise of Things, including unified endpoint management (UEM), cybersecurity solutions, embedded systems, crisis communications, enterprise applications and related services, with hosting available on the company’s global, scalable, secure network, as well as in the cloud. BlackBerry continues to increase and enhance its product and service offerings through both organic investments and strategic acquisitions. The company aims to remain a leader in its target enterprise markets by extending the functionality of its secure platform and delivering innovative solutions focused on strategic industry verticals.

BlackBerry recently unveiled a new unified global partner program that will enable customers to differentiate their business while driving revenues. The program is a combination of BlackBerry’s Cylance Partner Programs and Enterprise Partner Program. Touted as an ideal platform for enterprise customers, it provides a plethora of avant-garde cybersecurity and endpoint management options. The solution is expected to improve technical capabilities while achieving greater revenue targets for firms.

The program mainly focuses to promote innovation, growth and enablement with industry-leading solutions. Through the program, more than 2,200 BlackBerry distribution partners will have access to its entire portfolio. The program has been designed with an integrated sales portal that will provide direct access to streamlined tools and resources on a real-time basis. This feature will help in maintaining business continuity while bolstering go-to-market efforts of the partners.

With a long-term earnings growth expectation of 51.8%, this stock appears to be an enticing investment option in the volatile market.

It has gained 21.5% in the past six months against the industry’s decline of 6.8%.

Other Key Picks

Some other top-ranked stocks in the broader industry are Harmonic Inc. HLIT, Acacia Communications, Inc. ACIA and Corning Incorporated GLW, each sporting a Zacks Rank #1.

Harmonic has a long-term earnings growth expectation of 15%. It delivered a positive earnings surprise of 4.4%, on average, in the trailing four quarters.

Acacia delivered a positive earnings surprise of 17%, on average, in the trailing four quarters.

Corning has a long-term earnings growth expectation of 2.4%. It delivered a positive earnings surprise of 39.9%, on average, in the trailing four quarters.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

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Corning Incorporated (GLW): Free Stock Analysis Report

Harmonic Inc. (HLIT): Free Stock Analysis Report

Acacia Communications, Inc. (ACIA): Free Stock Analysis Report

BlackBerry Limited (BB): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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