BigBear.ai Stock Hits 19-Month High As Analyst More Than Doubles Price Target: Retail Sentiment Surges
BBAI is a Maryland-based startup that offers AI-powered decision intelligence solutions to companies engaged in defense, manufacturing, and warehousing sectors.
FollowShares of BigBear.ai Holdings (BBAI) soared to a 19-month high in morning trade on Tuesday after analysts at H.C. Wainwright more than doubled their price target on the stock to $7.
H.C. Wainwright’s lead analyst, Scott Buck, reiterated his ‘Buy’ rating for BigBear.ai stock, while Cantor Fitzgerald has an ‘Overweight’ rating, as reported by TheFly.
Buck increased the price target for the company’s stock to $7 from $3, citing the company’s strong presence in the artificial intelligence and data-based industries.
BigBear.ai also announced the restructuring of its debt, exchanging $182.3 million in convertible senior notes due in 2026 in favor of notes maturing in 2029.
BBAI is a Maryland-based startup that offers AI-powered decision intelligence solutions to companies engaged in the defense, manufacturing, and warehousing sectors.
Reacting to the news, BigBear.ai shares gained nearly 4% to trade at $5 apiece – in pre-market trading, the stock hit a 19-month high, touching $5.20.
The stock was last seen trading at these levels in Feb. 2023.
Retail sentiment on Stocktwits turned ‘bullish’ (72/100) after hovering in the ‘bearish’ territory a day ago.
Meanwhile, users expressed optimism for the BBAI stock on Stocktwits.
One user said it wouldn’t be surprising if the stock skyrockets on the last day of 2024.
BBAI stock has surged over 144% year-to-date, with most of the gains accruing over the past month when it gained over 122%.
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