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The latest trading session saw BigBear.ai Holdings, Inc. (BBAI) ending at $1.55, denoting no adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.75% for the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 1%.
Shares of the company have appreciated by 28.1% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.48% and the S&P 500's gain of 4.03%.
The investment community will be closely monitoring the performance of BigBear.ai Holdings, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.07, signifying a 333.33% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $45.32 million, indicating a 33.33% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.79 per share and a revenue of $172.36 million, signifying shifts of -97.5% and +11.08%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for BigBear.ai Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BigBear.ai Holdings, Inc. is currently a Zacks Rank #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 72, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
Penny stocks have the potential to deliver exponential growth. However, they are speculative investments and highly volatile, given that penny stocks are typically associated with smaller, growing companies that are still in the early stages of development.
However, strategic investments in early-stage companies with strong fundamentals can yield significant returns over time. As these companies gain market recognition and scale, their share prices often reflect this growth. Moreover, when a penny stock is rated as a “Strong Buy,” it indicates that analysts see clear growth potential. This endorsement provides an additional layer of confidence.
In this context, Arbe Robotics and BigBear.ai emerge as notable options. Both companies offer exposure to high-growth sectors, giving them solid long-term growth opportunities. Moreover, a majority of analysts have rated them as a "Strong Buy," with considerable upside potential based on their average price targets.
Let’s take a closer look at what makes these stocks compelling investments.
Arbe Robotics
Arbe Robotics is carving a niche in the automotive radar market, offering advanced radar solutions designed for Advanced Driver Assistance Systems (ADAS), autonomous vehicles (AV), and a range of safety applications. Although the company’s stock is under pressure, its long-term potential remains compelling.
It’s worth noting that Arbe stock is down about 23% in one year. Much of this decline can be attributed to macroeconomic uncertainty, weakness in electric vehicle (EV) demand, and the high-interest rate environment, which have put pressure on the company's customer base and delayed their product deployment schedule, causing short-term setbacks.
Despite these hurdles, Arbe is poised to capitalize on secular trends in vehicle automation electrification. The company has yet to generate notable revenue, but it is making meaningful strides toward securing a leadership position as the leading radar tech supplier to the auto industry. With its advanced technology and innovative approach, Arbe could capture notable market share in the rapidly expanding ADAS and AV sectors.
Arbe has recently achieved a significant milestone by securing two key customers for its imaging radar production, signaling the company’s growing acceptance in the market. These design wins strongly endorse Arbe’s technology and suggest that the company is well-positioned to capture additional OEM customers.
Arbe’s radar chipsets are designed to be compatible with various vehicle types, increasing their appeal across the broader automotive market. Beyond the automotive industry, Arbe is expanding its reach by targeting non-automotive applications, unlocking new growth opportunities across different sectors.
The company has a strong balance sheet, providing it the flexibility to navigate near-term challenges and fund growth initiatives. In addition, Arbe’s ongoing efforts to improve its cost structure are likely to reduce its cash burn rate, bolstering its financial stability during this growth phase.
Wall Street is optimistic about Arbe’s long-term prospects, reflected in a unanimous “Strong Buy” rating among the four analysts in coverage. Further, their average price target of $3.60 implies 80.9% upside potential.
BigBear.ai Holdings
BigBear.ai (BBAI) is a compelling investment in the artificial intelligence (AI) sector. The company provides decision intelligence solutions leveraging AI for critical sectors like national security, supply chain management, and digital identity. With each of these target markets poised for significant growth in the coming years, the company is set for solid expansion.
BigBear.ai’s multifaceted growth strategy positions it well to deliver exceptional gains. BBAI is expanding its customer base and driving higher revenues from its existing customers. Moreover, it is expanding its partner ecosystem to scale operations and boost revenue. In addition, BigBear.ai is focusing on broadening its AI solutions to drive its use cases and generate higher growth opportunities.
BigBear.ai is also focusing on enhancing its AI capabilities through strategic acquisitions, which is a key driver of its future growth. Its recent acquisition of Pangiam, a company specializing in AI-driven solutions for security and identity, is expected to bolster BigBear.ai’s Vision AI portfolio, driving innovation and positioning the company to capture a higher market share.
BigBear.ai’s ConductorOS platform represents another significant growth catalyst. This platform is designed for seamless integration into any infrastructure, unlocking substantial opportunities.
BigBear.ai is expanding its product offerings and improving its financial performance. In the second quarter of 2024, the company’s gross margin rose to 27.8%, up from 23.3% in the same period of 2023. This improvement was largely driven by a favorable sales mix, with higher-margin solutions contributing to better profitability. In addition, BigBear.ai is focusing on optimizing its cost structure and reducing its cash burn, which should support long-term financial stability.
Wall Street remains bullish on BigBear.ai’s prospects. Analysts have a consensus rating of "Strong Buy," with an average price target of $3.00. This suggests a substantial upside potential of 85.2% from current levels.
On the date of publication, Amit Singh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
BigBear.ai Holdings Inc. is an artificial intelligence (AI)-powered data analytics specialist, providing decision intelligence solutions that span national security, digital identity, and supply chain management. The company's list of customers includes national defense and intelligence agencies, as well as transportation security and border security, plus private sector companies from the travel, entertainment, manufacturing, distribution and logistics, and tourism industries. Incorporated in 1988, the company is headquartered in Columbia, Maryland.
Valued at just $423 million, BBAI is a member of the Russell 2000 Index (RUT), a benchmark of small-cap stocks.
BigBear.ai stock is down about 90% from its April 2022 all-time highs, and now trades firmly in penny stock territory. However, the small-cap stock has gained momentum lately thanks to some positive headlines, and is now up 20% over the past five days.
BigBear Wins a Key Contract
Last Wednesday alone, BigBear stock spiked more than 27% after the company announced a new contract with privately held Concept Solutions, establishing BBAI as a subcontractor to the Federal Aviation Authority (FAA).
Under the terms of the deal, worth up to $2.4 billion over the next decade, BBAI will manage information systems nationwide, and provide support for administrative, financial, and security programs to enhance operational and facility management capabilities.
BigBear Falls After Q2 Earnings
The contract win helped reverse a post-earnings slump for BigBear.ai, which announced mixed Q2 results at the beginning of this month.
BBAI posted Q2 revenue of $39.78 million, up 3.4% from last year’s figure of $38.46 million, but short of the expected $46.54 million. The net loss narrowed to $11.7 million, compared to last year's $16.9 million, while the non-GAAP EBITDA loss of $3.4 million translated to a better-than-expected per-share loss of $0.04.
Gross margin increased from 23.3% in last year's Q2 to 27.8% this year. Further, the company ended the quarter with a cash balance of $72.3 million, up 140% from last year’s $29.9 million.
Management decreased its full-year revenue outlook to a range between $165-$180 million from the previous guidance of $195-$215 million, which CEO Mandy Long attributed to uncertainty “around the timing of certain customer awards and regulatory approvals.” BBAI ended the quarter with a backlog of $266 million.
BBAI Scores ‘Strong Buy’ Status
Analysts appear to have grown more bullish on BBAI stock lately, with the consensus rating on Wall Street rising from “Moderate Buy” one month ago to “Strong Buy” today. However, it's worth noting that this is largely the result of one analyst with a “Hold” rating recently dropping their coverage on the penny stock.
Currently, BBAI has 3 “Strong Buy" ratings and 1 “Hold,” compared to 3 “Strong Buys” and 2 “Holds” previously.
The mean price target for BBAI is $3.00, about 80% higher than current prices. Notably, BBAI stock hasn't traded above $3.00 per share since prior to its March 2024 bear gap on Q4 earnings.
While this penny stock may have significant upside potential, the lack of profitability and uneven revenue visibility means that BigBear.ai is a high-risk, high-reward play that's likely best reserved for investors who can stomach the increased volatility.
On the date of publication, Ruchi Gupta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
U.S. stock futures were higher this morning, with the Dow futures gaining around 150 points on Friday.
Shares of Ubiquiti Inc. fell sharply in today's pre-market trading after the company reported worse-than-expected fourth-quarter sales results.
Ubiquiti reported quarterly earnings of $1.74 per share which beat the analyst consensus estimate of $1.73 per share. The company reported quarterly sales of $507.46 million which missed the analyst consensus estimate of $511.62 million.
Ubiquiti shares dipped 7.6% to $163.22 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 0.5% on Wednesday.
The Dow traded up 0.08% to 40,867.75 while the NASDAQ rose 0.49% to 17,903.01. The S&P 500 also rose, gaining, 0.37% to 5,618.02.
Check This Out: Executives Buying W. P. Carey And 2 Other Stocks
Leading and Lagging Sectors
Consumer discretionary shares climbed by 1.2% on Wednesday.
In trading on Wednesday, financials shares fell by 0.3%.
Top Headline
TJX Companies, Inc. reported strong second-quarter performance and raised its fiscal 2025 profit outlook.
TJX reported second-quarter earnings per share of 96 cents (+13%), beating the analyst consensus of 91 cents. Quarterly sales of $13.468 billion (+6%) outpaced the street view of $13.307 billion.
Equities Trading UP
Equities Trading DOWN
Commodities
In commodity news, oil traded down 2.2% to $71.60 while gold traded down 0.1% at $2,547.20.
Silver traded down 0.1% to $29.51 on Wednesday, while copper rose 0.7% to $4.1890.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.33%, Germany's DAX rose 0.50% and France's CAC 40 gained 0.52%. Spain's IBEX 35 Index rose 0.24%, while London's FTSE 100 rose 0.12%.
The annual inflation rate in the Eurozone increased to 2.6% in July from 2.5% in the prior month, while current account surplus rose to €52.4 billion in June from €32.4 billion a year ago. Italy’s current account surplus widened to EUR 4,885 billion in June from EUR 1,248 billion in the year-ago period. Producer prices in Germany fell by 0.8% year-over-year in July.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 0.29%, Hong Kong's Hang Seng Index falling 0.69%, China's Shanghai Composite Index falling 0.35% and India's BSE Sensex rising 0.13%.
The annual inflation rate in Hong Kong increased to 2.5% in July from 1.5% in the prior month. The People’s Bank of China kept key lending rates unchanged at the recent fixing.
Economics
Now Read This:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
U.S. stocks were higher, with the Nasdaq Composite gaining around 50 points on Wednesday.
Shares of Toll Brothers, Inc. rose sharply during Wednesday's session after the company reported better-than-expected third-quarter financial results and issued FY24 EPS guidance above estimates.
The company reported adjusted EPS of $3.60, beating analysts estimate of $3.31 and sales of $2.73 billion, beating analysts estimate of $2.71 billion.
Toll Brothers shares climbed 6.5% to $142.27 on Wednesday.
Here are some other big stocks recording gains in today's session.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 50 points on Wednesday.
The Dow traded down 0.16% to 40,767.87 while the NASDAQ fell 0.14% to 17,792.53. The S&P 500 also fell, dropping, 0.06% to 5,593.92.
Check This Out: Executives Buying W. P. Carey And 2 Other Stocks
Leading and Lagging Sectors
Materials shares climbed by 0.7% on Wednesday.
In trading on Wednesday, financials shares fell by 0.6%.
Top Headline
Crude oil inventories in the U.S. fell by 4.649 million barrels in the week ending Aug. 16, compared to market expectations for a decline of 2.72 million barrels.
Equities Trading UP
Equities Trading DOWN
Commodities
In commodity news, oil traded down 1.1% to $72.36 while gold traded down 0.2% at $2,546.20.
Silver traded up 0.1% to $29.555 on Wednesday, while copper rose 0.8% to $4.1935.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.33%, Germany's DAX rose 0.50% and France's CAC 40 gained 0.4%. Spain's IBEX 35 Index rose 0.52%, while London's FTSE 100 rose 0.12%.
The annual inflation rate in the Eurozone increased to 2.6% in July from 2.5% in the prior month, while current account surplus rose to €52.4 billion in June from €32.4 billion a year ago. Italy’s current account surplus widened to EUR 4,885 billion in June from EUR 1,248 billion in the year-ago period. Producer prices in Germany fell by 0.8% year-over-year in July.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 0.29%, Hong Kong's Hang Seng Index falling 0.69%, China's Shanghai Composite Index falling 0.35% and India's BSE Sensex rising 0.13%.
The annual inflation rate in Hong Kong increased to 2.5% in July from 1.5% in the prior month. The People’s Bank of China kept key lending rates unchanged at the recent fixing.
Economics
Now Read This:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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