After BlackBerry's Mixed Q1, BofA Says Its Valuation Reflects Risk
After BlackBerry's Mixed Q1, BofA Says Its Valuation Reflects Risk
BlackBerry Ltd(NYSE:BB) reported light first-quarter revenue while still delivering an earnings beat.
The company’s QNX auto software segment came under pressure due to a slowdown in auto production, while the traditional Enterprise segment remained flat, according to BofA Securities.The BlackBerry Analyst
Daniel Bartus maintained a Neutral rating on BlackBerry with an unchanged $5.50 price target.The BlackBerry Thesis
BlackBerry’s low organic growth and the risks associated with its exposure to highly competitive markets are reflected in the stock valuation, Bartus said in a Thursday note. (See his track record here.)
The company reported mixed first-quarter results, with revenue of $214 million missing the Street estimate of $215.3 million.
Despite gross margins coming in weaker than expected, operating margins outperformed due to a 26% decline in BlackBerry’s sales and marketing spend, the analyst said.
The QNX auto software segment was hurt by a slowdown in royalties that accrue to BlackBerry upon auto production and pauses in key partner projects, he said.
BofA estimates that QNX sales have declined as much as 55%, Bartus said.
BlackBerry indicated the traditional enterprise segment was roughly flat.
The AtHoc crisis communications segment has growth potential due to COVID-19 and BlackBerry offering it as a managed service, the analyst said.
Bartus also expects Cylance to return to growth, as it is also now being delivered as a managed service and with new added endpoint detection and response capabilities.BB Price Action
Shares of BlackBerry ended Thursday's session down 1.42% at $4.85.
Related Links:
30 Stocks Moving in Thursday's Pre-Market Session
A Peek Into The Markets: US Stock Futures Flat Following Wednesday's Slump
Photo courtesy of BlackBerry.
BlackBerry Ltd(NYSE:BB) reported light first-quarter revenue while still delivering an earnings beat.
黑莓公司(紐約時間:BB) 報告輕盈的第一季度營收，同時仍帶來盈利節拍。
The company’s QNX auto software segment came under pressure due to a slowdown in auto production, while the traditional Enterprise segment remained flat, according to BofA Securities.The BlackBerry Analyst
據美國銀行證券報導，該公司的 QNX 汽車軟件部門受到壓力，由於汽車生產放緩，而傳統的企業部門保持平坦。黑莓分析師
Daniel Bartus maintained a Neutral rating on BlackBerry with an unchanged $5.50 price target.The BlackBerry Thesis
丹尼爾·巴特斯保持了黑莓的中性評級，價格目標不變 $5.50。黑莓論文
BlackBerry’s low organic growth and the risks associated with its exposure to highly competitive markets are reflected in the stock valuation, Bartus said in a Thursday note. (See his track record here.)
巴特斯（Bartus）在周四報告中表示，黑莓的低有機增長以及與其暴露於競爭激烈市場相關的風險反映在股票估值中。（在這裡查看他的往績記錄。）
The company reported mixed first-quarter results, with revenue of $214 million missing the Street estimate of $215.3 million.
該公司報告了第一季度業績混合，收入為 2.14 億美元，缺少街道估計 2.15.3 億美元。
Despite gross margins coming in weaker than expected, operating margins outperformed due to a 26% decline in BlackBerry’s sales and marketing spend, the analyst said.
分析師表示，儘管毛利率低於預期，但由於 BlackBerry 的銷售和營銷支出下降了 26%，營業利潤率表現優於預期。
The QNX auto software segment was hurt by a slowdown in royalties that accrue to BlackBerry upon auto production and pauses in key partner projects, he said.
該 QNX 汽車軟件部門受到特許權使用費放緩的傷害，在汽車生產和暫停在關鍵合作夥伴項目暫停, 他說.
BofA estimates that QNX sales have declined as much as 55%, Bartus said.
巴特斯說，美國央行局估計，QNX 的銷售額下降了多達 55％。
BlackBerry indicated the traditional enterprise segment was roughly flat.
黑莓表示，傳統的企業細分市場大致平坦。
The AtHoc crisis communications segment has growth potential due to COVID-19 and BlackBerry offering it as a managed service, the analyst said.
分析師表示，由於 COVID-19 和黑莓將其作為託管服務提供，ATHOC 危機通信部門具有增長潛力。
Bartus also expects Cylance to return to growth, as it is also now being delivered as a managed service and with new added endpoint detection and response capabilities.BB Price Action
Bartus 還預計 Clance 將恢復成長，因為它現在也以託管服務的形式提供，並具有新增的端點檢測和響應功能。BB 價格行動
Shares of BlackBerry ended Thursday's session down 1.42% at $4.85.
黑莓股份結束週四的會議下跌 1.42％，價格為 4.85 美元。
Related Links:
相關連結：
30 Stocks Moving in Thursday's Pre-Market Session
30 隻股票在周四的上市前時段移動
A Peek Into The Markets: US Stock Futures Flat Following Wednesday's Slump
窺探市場：美國股票期貨在周三暴跌後持平
Photo courtesy of BlackBerry.
照片禮貌的黑莓。
譯文內容由第三人軟體翻譯。
風險及免責聲明
- 分享到weixin
- 分享到qq
- 分享到facebook
- 分享到twitter
- 分享到微博
- 粘贴板
使用瀏覽器的分享功能，分享給你的好友吧