BlackBerry (TSX:BB): A Buy Stock For Long-Term Investors?

3 min read | May 18, 2021 05:25 AM EDT | By Anuj

BlackBerry (TSX:BB): A Buy Stock For Long-Term Investors? — Image source: katjen, Shutterstock

BlackBerry Limited (TSX:BB)

The software company is persistently collaborating with global automation players to bolster its existing software products, cybersecurity products and secure finance tech solutions amid the rising digital payment habits.

BlackBerry’s revenue decreased by 14 per cent year-over-year in 2020. Despite that, investors have been investing in the future of the company, with its last six-month equity returns being over 50 per cent.

BlackBerry was in a dormant stage for the last few years. But in 2020, the Reddit-based stock frenzy had become one of the primary catalysts for its revival.

BlackBerry stock has yielded over 21 per cent this year, propelled by artificial intelligence operations. It has a stock price of C$ 10.23, and it could rebound to its January high of C$ 36 apiece by the end of this year.

BlackBerry's One-Year Stock Price Movement Against Moving Average. (Source: EODHD/Others)

The software stock has surpassed the S&P TSX Composite Index year-to-date. However, it has been trading marginally down from its moving average.

Partnering with Amazon Web Services (AWS), the company has started developing smart automotive solutions. This collaboration has boosted its data-driven EV products demand in the software industry.

BlackBerry may begin attributing some profits to its shareholders or earnings per share by the end of this year.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.