BlackBerry (BB), Carahsoft partner for cyber security solutions

Blackberry BB and Carahsoft Technology Corp. have teamed up to offer BlackBerry cybersecurity products through Carahsoft’s ValuePoint contract to the National Association of Government Procurement Officers (NASPO).

The collaboration gives state and local governments and educational institutions access to BlackBerry’s robust cybersecurity solutions. NASPO ValuePoint is a cooperative procurement program that facilitates public procurement agreements and solicitations using a lead nation approach.

BlackBerry’s cybersecurity suite uses advanced technologies like artificial intelligence and machine learning to protect sensitive data and digital ecosystems. The goal of the partnership is to provide innovative cybersecurity tools to address evolving threats and ensure a secure digital future.

BlackBerry Limited Price and Consensus

BlackBerry Limited Price Consensus Chart | BlackBerry limited offer

Headquartered in Waterloo, Canada, BB provides intelligent security software and services to businesses and governments worldwide. It offers devices and software platforms to manage security, mobility and communication between hardware, mobile applications and the Internet of Things.

The company has aligned its software and services business around two key market opportunities — Cybersecurity and IoT. Cybersecurity continues to witness strong growth in new products for unified endpoint security.

BB plans to separate the IoT and cybersecurity businesses into independent entities, but will no longer pursue an IPO of the IoT business. The spin-off is expected to unlock value for all shareholders. Moreover, it will also provide greater flexibility to each company to pursue its own growth strategy and capital allocation policy.

Recently, at CES 2024, the company also unveiled the QNX Software Development Platform (SDP) 8.0, along with the latest QNX OS 8.0. This is a fifth-generation platform that provides a secure and reliable system, while also supporting QNX and Linux developers through its POSIX API.

BlackBerry further added that QNX SDP 8.0 forms the basis for the upcoming product line of the BlackBerry QNX portfolio, such as QNX OS for Security, QNX Hypervisor and QNX Hypervisor for Security.

BB currently has a Zacks Rank #3 (Hold). The stock lost 30.5% last year compared to the sub-industry’s growth of 51.2%.

Image source: Zacks Investment Research

Stocks to consider

Some higher-ranked stocks from the broader technology space are Synopsis SNPS, Forest ranger WWD and Perion network WASH. Both Synopsys and Perion Network currently carry a Zacks Rank #1 (Strong Buy), while Woodward carries a Zacks Rank #2 (Buy). You can see a complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Synopsys’ 2024 earnings per share (EPS) improved by 1.1% over the past 60 days to $13.56. The long-term earnings growth rate of SNPS is 17.5%.

Synopsys’ earnings have topped the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 4.1%. SNPS shares have risen 50.3% in the past year.

The Zacks Consensus Estimate for Woodward’s fiscal 2024 earnings per share has risen 5.7% over the past 60 days to $5.27. WWD’s long-term earnings growth rate is 15.5%.

Woodward’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 27.2%. WWD shares are up 51.2% in the past year.

The Zacks Consensus Estimate for Perion Network’s fiscal 2024 EPS improved by 0.6% over the last 60 days to $3.34. PERI’s long-term earnings growth rate is 22%.

The company’s earnings have topped the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 12.9%. PERI shares have lost 39.1% in the past year.

Want the latest recommendations from Zacks Investment Research? Today you can download the 7 best stocks for the next 30 days. Click to get this free report