Schaeffer's Top Stock Picks for '25

BlackBerry Stock Brushes Off Revenue Whiff

Call traders are targeting BB after the event

Deputy Editor
Mar 31, 2023 at 10:49 AM
facebook X logo linkedin


BlackBerry Ltd (NYSE:BB) has reversed its premarket losses in a big way, up 14.6% at $4.55 at last glance. The software company's fourth-quarter revenue whiffed on estimates, while full-year guidance also disappointed. Nevertheless, TD Securities upgraded the stock to "hold" from "reduce," with a price-target hike to $4 from $3.75. 

On track for its third-straight weekly win, BB is looking to close out a winning quarter -- up 39.7% since the start of the year. Long-term pressure at the 160-day moving average now looms and appears to be keeping today's gains in check. 

Options bulls are chiming in after the earnings event, with 34,000 calls exchanged so far -- 13 times the intraday average -- in comparison to 8,874 puts. The weekly 3/31 4.50-strike call is the most popular, followed by the 4-strike call in the same series. 

All eight analysts in coverage still carry a "hold" or worse rating on BB, leaving plenty of room for optimism moving forward. Plus, the 12-month consensus price target of $4.77 is a chip shot away from current levels. 

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?