MicroCap Firm BigBear.ai Scored Against 92 Rivals To Bag $900M IDIQ, But Analyst Lists Concerns and Risks - BigBear.ai Hldgs (NYSE:BBAI)

William Blair analyst Louie DiPalma had a Market Perform rating on BigBear.Ai, Inc BBAI.
The share price for BigBear.ai jumped after it won a multiple award $900 million Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Air Force.
The contract indicated that there were 92 other awardees for the contract against whom BigBear had to fight to win orders carrying a ceiling value of $900 million.
The contract indicated that each vendor won $1,000. The multiple vendors further boosted the risk of BigBear not winning any order concerning the contract.
Additionally, the contract being an IDIQ instead of a definitive agreement, there is also the risk of BigBear not winning the total amount over the contract period.
The AI-powered analytics solutions provider has a market cap of $107.4 million.
Price Action: BBAI shares are trading higher by 240.40% at 2.88 on the last check Thursday.