BUZZ-BigBear.ai tumbles on disappointing Q1 results

Reuters05-03

** Shares of artificial intelligence $(AI)$ firm BigBear.ai Holdings fall 12.1% to $1.52 premarket

** Q1 revenue decreased 21.4% to $33.1 mln, missing Wall Street view of $43.7 mln - LSEG data

** Co posts quarterly loss of $0.67/share, analysts on average estimated loss of $0.06/share

** Co reaffirms FY24 revenue forecast of $195 mln-$215 mln

** Three of five brokerages covering the stock rate it "buy", two "hold"; their median PT is $4

** Up to Thursday's close, stock had fallen 19.2% YTD

(Reporting by Khushi Singh in Bengaluru)

((Khushi.Singh@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment