BlackBerry (TSX:BB) & OpenText: 2 Cybersecurity Stocks To Explore

Summary

  • Blackberry’s stocks climbed as much as 21.2 per cent on January 14, with a one-day trading volume of nearly 12 million.
  • BB scrips have swelled 67 per cent in the last one month, as the company retreats from its smartphone business.
  • Stocks of OpenText have yielded 7 per cent growth in the last three months, with a quarterly dividend of US$ 0.201 per common share.

 

There’s an increased scrutiny on digital security as more people work from home or go online for shopping and financial transactions. The new normal is making us gung-ho on cybersecurity. As a result, business entities are exploring more options to protect their data from any kind of cyber thefts or attack. On the back of this cybersecurity urgency, several software companies, such as BlackBerry (TSX:BB) & OpenText, which provide end-to-end security are witnessing an unprecedented demand in services and products.

 

Let us delve stocks’ performances of the two cybersecurity companies:

 

BlackBerry Limited (TSX:BB)

Current Stock Price: C$ 11.46

 

The company offers digital security solutions to government agencies and top organizations from automotive, healthcare, and industrial enterprises.

Shares of the tech company soared over 21 per cent on Thursday, January 14, after reports claimed that at least 90 patents to Chinese smartphone maker Huawei. Over 11.96 million Blackberry stocks were traded on the TSX, thereby positioning among TMX’s top volume stocks.

BlackBerry has been continuously retreating from its mobile segment and expanding into the software sector. Its stocks have returned over 30 per cent in one year and added 67 per cent in the last three months. It has a present market cap of C$ 6.44 billion and a price-to-cashflow ratio of 66.30, as per data on TMX site.

In the third quarter of fiscal 2021, which ended on November 30, 2020, the company generated GAAP revenue of US$ 218 million against US$ 259 in Q2 FY21.

Open Text Corporation (TSX:OTEX)

Current Stock Price: C$ 58.61

 

OTEX’s stock has increased by nearly 7 per cent in the last three months. The tech stock holds a current return on equity of 6.60 per cent and a price-to-cashflow of 11.60. Its current market cap is approximately C$ 15.96 billion, according to the TMX portal.

This software company distributes a quarterly dividend of US$ 0.201. Its three-year dividend growth stands at 11.21 per cent and currently yields 1.799 per cent.

In its first quarter of fiscal 2021, which ended on September 31, the company reported operating cash flows of US$ 233.9 million, a jump of 70.2 per cent year-over-year (YoY). Its GAAP net income was US$ 103.4 million, an increase of 38.9 per cent YoY.

 

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