TLDR
- BB stock pulled back after hitting a 52-week high of $10.93, with the drop framed as a technical correction from overbought levels
- Q1 2027 earnings are due before market open on June 25, with analysts expecting $0.03 EPS and $137.7M in revenue
- Last quarter beat expectations with $0.06 EPS vs $0.04 estimated and revenue of $157.96M, up 10.1% year over year
- Analyst consensus is a Hold with a price target of $5.73; CIBC raised its target to $10.00 with an Outperform rating
- CEO and SVP sold stock in early April at $3.56; insiders have sold 73,171 shares worth ~$260K in the past 90 days
BlackBerry (BB) stock opened at $8.84 on Thursday, down around 3.6% on the day, as traders locked in profits following a sharp run-up that pushed the stock to a 52-week high of $10.93. The stock is up 133% year to date.
The pullback doesn’t appear tied to any negative company news. Analysts are pointing to a textbook technical correction after a strong rally pushed BB into overbought territory.
Eyes are now turning to earnings. BlackBerry is set to report Q1 2027 results before the bell on Thursday, June 25. The call is scheduled for 8:00 AM ET.
Wall Street is expecting $0.03 EPS on revenue of $137.65 million for the quarter. That would be a step down from last quarter’s strong beat.
BlackBerry’s most recent earnings, reported April 9, came in well above expectations. The company posted $0.06 EPS versus the $0.04 consensus and revenue of $157.96 million against estimates of $144.27 million — a 10.1% year-over-year increase.
For full-year FY2027, management has guided for EPS of $0.15 to $0.19. Q1 guidance sits at $0.02 to $0.03 EPS.
Analyst Targets Are All Over the Map
The analyst community is divided on BB. Canadian Imperial Bank of Commerce stands out, raising its price target from $8.50 to $10.00 this week and rating the stock Outperform.
That’s notably aggressive compared to others. Canaccord Genuity cut its target from $4.60 to $4.40 in April and kept a Hold. Royal Bank of Canada maintained a Sector Perform with a $4.50 target. Weiss Ratings downgraded BB slightly to a Hold (C-) on June 4.
The consensus is a Hold with an average price target of $5.73 — well below where the stock is currently trading.
Insiders Were Selling in April
CEO John Giamatteo sold 27,066 shares on April 2 at $3.56 per share, reducing his stake by 2.92%. SVP Jennifer Armstrong-Owen sold 29,908 shares on April 4 at the same price, cutting her position by 23.96%.
Combined insider sales over the past 90 days total 73,171 shares valued at roughly $260,000. Insiders now hold just 0.51% of the company.
On the institutional side, Creative Planning increased its position by 87.5% in Q2, while several funds including Scientech Research and Man Group initiated new positions.
The stock’s 50-day moving average sits at $6.76 and its 200-day at $4.77 — both well below the current price, underscoring how fast BB has moved this year.
BB carries a P/E ratio of 110.50, a beta of 2.29, and a debt-to-equity ratio of 0.26. The 12-month low was $3.12.
The next major catalyst is the June 25 earnings report, where management’s Q1 guidance of $0.02–$0.03 EPS will be tested against actual results.
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