BlackBerry downgraded by Barclays amid concerns over high valuation despite QNX growth.

Barclays downgraded BlackBerry from Overweight to Reduce due to concerns over its stock being "extremely overbought" after a 200% price surge in two months. Despite expected 15% revenue growth in its QNX software segment for fiscal 2027, BlackBerry's high forward P/E of 67.21 and P/S of 10.12 suggest the stock may be overvalued. The downgrade reflects caution about a potential market correction. BlackBerry will report its Q1 results on June 25, 2026, which may provide further insight into its valuation and growth prospects.