Shares of American Public Education (APEI) soared 11.12% in pre-market trading on Tuesday, as investors reacted positively to recent analyst upgrades and a strong fourth-quarter earnings outlook. The education services provider has been gaining attention from Wall Street, with multiple firms expressing confidence in the company's future performance.

B. Riley Financial has raised its price target on APEI from $37 to $40, while maintaining a Buy rating on the stock. This upgrade comes on the heels of William Blair analyst Stephen Sheldon reiterating his Buy rating on APEI shares, citing the company's strong financial performance and resilience. The average analyst rating for APEI is currently a Buy, with a mean price target of $39.14, according to FactSet data.

Adding to the positive sentiment, American Public Education released its fourth-quarter earnings per share (EPS) outlook, projecting a range of $0.32 to $0.45. This guidance suggests confidence in the company's near-term financial performance, likely contributing to the pre-market rally. As the market opens, investors will be watching closely to see if APEI can maintain its momentum and capitalize on the renewed analyst optimism.