BlackBerry holds long-term prospects as a cyber-security expert that has been recognized and endorsed by government agencies, including the National Security Agency. Add to that the fact that the cyber-security market is projected to grow from the current $120-billion valuation to $300 billion by 2024. Meanwhile, Blackberry estimates the value of its available market at about $22 billion.
With cyber threats
increasing exponentially on a daily basis, BlackBerry’s relevance is getting
bumped up simultaneously.
The company is now
digging deep into Internet of Things and driver assistance platforms. The
recent acquisition of AI-based cybersecurity firm Cylance is expected to
provide tailwinds to Blackberry in this mission.
Look out for any management comments on Cylance’s impact on BlackBerry’s financials in this and next financial year.
A majority of the analysts covering the stock has a Hold rating. The stock has a 12-month average price target of $10.20, suggesting a 20% upside from the last close.