Northland lowered the firm’s price target on BigBear.ai (BBAI) to $3.50 from $4 and keeps a Market Perform rating on the shares. BigBear missed the firm’s Q1 estimates on further delays in government contracts in particular, though backlog grew 32% year-over-year and management noted their strategy is “beginning to resonate” and the company reiterated year guidance, the analyst tells investors in a post-earnings note.
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