BlackBerry Limited BB announced that its BlackBerry QNX software is now integrated into more than 235 million vehicles across the globe, per a report from TechInsights. This represents year-over-year growth of 20 million vehicle integrations.
In fiscal 2023, BlackBerry QNX secured more than 94 design wins from prominent automotive manufacturers like Daimler Truck, Denso, Ford, Hyundai, Jaguar Land Rover, Visteon, and others. BlackBerry’s QNX software is likely to benefit as the automotive industry moves toward a software-defined future.
Moreover, the company also revealed a significant surge in its BlackBerry QNX royalty backlog, which now stands at approximately $640 million as of fiscal 2023. This increase of 14% over three quarters demonstrates substantial growth compared to approximately $560 million reported at the first quarter of fiscal 2023-end.
BlackBerry Limited Price and Consensus
BlackBerry Limited price-consensus-chart | BlackBerry Limited Quote
Overall, the company is likely to benefit from increasing design wins and royalty backlog. Also, BlackBerry is well-positioned to capitalize on the expanding software-defined automotive landscape and contribute to the advancement of smart cities.
Headquartered in Waterloo, Canada, BB provides intelligent security software and services to enterprises and governments worldwide. It offers devices and software platforms for managing security, mobility and communications among hardware, mobile apps and the Internet of Things.
In February, the company announced that Chongqing Yazaki Meter Co. had chosen the BlackBerry QNX Neutrino Realtime Operating System (RTOS) to power its digital instrument cluster. The QNX Neutrino RTOS supports 64-bit ARMv8 computing platforms and Intel x86-64 architecture and provides the necessary technology to power the automotive industry’s next-generation vehicles.
Prior to that, the company unveiled QNX Accelerate, an initiative that makes the cloud-powered versions of its QNX Neutrino RTOS and QNX OS for Safety available on the AWS Marketplace.
BlackBerry currently has a Zacks Rank #3 (Hold). Shares of the company have lost 16.7% in the past year against the sub-industry’s growth of 31.8%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the broader technology space are Perion Network PERI, Badger Meter BMI and Blackbaud BLKB. Perion Network and Blackbaud presently sport a Zacks Rank #1 (Strong Buy), whereas Badger Meter holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Perion Network’s 2023 earnings has increased 5.6% in the past 60 days to $2.84 per share. The long-term earnings growth rate is anticipated to be 25%.
Perion Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 19.3%. Shares of PERI have gained 76.3% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have surged 81.5% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 9.3% in the past 60 days to $3.75 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of the company have jumped 17.8% in the past year.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
Badger Meter, Inc. (BMI) : Free Stock Analysis Report
Blackbaud, Inc. (BLKB) : Free Stock Analysis Report
Perion Network Ltd (PERI) : Free Stock Analysis Report
BlackBerry Limited (BB) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.