BigBear.ai, an artificial intelligence company, saw its shares plummet by 15% in premarket trading following the release of its fourth-quarter results. The company’s stock price was further impacted when Cantor Fitzgerald, a financial analyst firm, reduced its price target on BigBear.ai from $4 to $2. This adjustment reflects a significant 50% decrease in the expected stock value. Despite the lowered price target, Cantor Fitzgerald maintained an Overweight rating on the stock, suggesting a belief in the company’s long-term potential despite the immediate financial setbacks. The Q4 earnings report evidently did not meet expectations, leading to the sharp decline in share value.
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