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We’re Nonplussed by BlackBerry’s Surge on Oct. 19; Maintain $7 FVE

Analyst William Kerwin

William Kerwin Analyst

Analyst Note

| William Kerwin | Oct 19, 2021

No-moat BlackBerry rose as much as 15% in midday trading on Oct. 19, but we don’t think this reflects any shift in fundamentals and we reiterate our $7 fair value estimate. We continue to view shares as fundamentally overvalued.

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Company Profile

Business Description

BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.

Contact

2200 University Avenue East
Waterloo, ON, N2K 0A7, Canada

T +1 519 888-7465

investorinfo@blackberry.com

www.blackberry.com

Sector Technology

Industry Software - Infrastructure

Most Recent Earnings Aug 31, 2021

Fiscal Year End Feb 28, 2022

Stock Type —

Employees 3,497

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