BlackBerry Ltd BB shares are trading lower by 3.6% at $12.22 Friday morning after the software company reported first-quarter earnings Thursday.
BlackBerry's total company revenue for the first quarter of fiscal 2022 was $174 million and total company gross margin was 66%.
Following the earnings results, Canaccord Genuity analyst Michael Walkley downgraded BlackBerry from Hold to Sell.
CIBC analyst Todd Coupland downgraded BlackBerry from Neutral to Underperform and raised the price target from $9 to $11.
BlackBerry is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.
BlackBerry has a 52-week high of $28.77 and a 52-week low of $4.37.
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