Investment firm H.C. Wainwright has raised its price target on BigBear.ai Holdings (NYSE: BBAI) from $6.00 to $9.00 while reiterating a Buy rating, citing strong performance, robust backlog, and favorable positioning in the artificial intelligence defense and security sectors.
The firm highlighted the stock’s impressive 52.6% gain in the first half of 2025, vastly outperforming the Russell 2000 Index, which fell 2.5% over the same period. BigBear.ai, currently valued around $2 billion, has surged over 365% in the past year, according to InvestingPro data, News.Az reports, citing foreign sources.
Driving this momentum are new customer acquisitions, strategic partnerships, and contract wins, including the deployment of biometric software at 12 international airports and ports of entry, as well as collaborations in the UAE and with U.S. defense initiatives. The company reported Q1 2025 revenue of $34.8 million, up 4.9% year-over-year, and maintains a $384.9 million backlog, up 30.1% from last year.
H.C. Wainwright also expanded its valuation multiple on BigBear.ai from 10.0x to 12.0x, citing strong fundamentals and recent balance sheet improvements that could support future acquisitions. However, the firm noted that the current price target remains below the company’s 52-week high of $10.36, leaving room for potential upside.
Despite the upbeat outlook, Cantor Fitzgerald offered a more cautious perspective, lowering its 12-month price target to $5.00 due to macroeconomic concerns, while still maintaining an Overweight rating.
In executive news, Sean Ricker was appointed interim CFO following the departure of Julie Peffer.
BigBear.ai projects full-year 2025 revenue growth between 1.1% and 13.7%, and continues to play a growing role in the application of AI technologies across defense, security, and international infrastructure.
