Updated Aug 6 at 2:01pm ET.
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Baird raised its price target from $125 to $150, reflecting more confidence in the company's growth path. This move suggests the firm sees about 11 percent more room for the stock to rise from its current price. The update comes as the company continues to win large government contracts and improve its profit margins.
Source: Robert W. Baird
RBC Capital trimmed its price target from $180 to $170 following the latest financial results. A price target is what an analyst thinks the stock will be worth in the future. Despite the lower target, the firm kept its outperform rating, which means they still expect the stock to do better than the average company in the market.
Source: RBC Capital
The company earned $3.26 per share last quarter, beating the $2.91 that analysts expected. Revenue rose 7 percent to about 4.6 billion dollars, also coming in ahead of targets. This growth was led by strong demand in its defense and cyber security businesses.
Management raised its financial goals for the rest of the year, backed by 5 billion dollars in new contract wins this quarter. This brings the total backlog of signed work to a massive level, giving the business clear visibility into future revenue. The stock rose about 6 percent as the results showed the company is successfully shifting toward higher-profit software and technology work.
See the full quarter, and how our tracked metrics did
Source: 8-K filing
The Office of Naval Intelligence awarded the company a contract worth up to about 65 million dollars. The work involves updating the infrastructure that supports secure naval intelligence operations around the world. This is a routine but important win that shows the company's deep ties with military intelligence agencies.
Source: PRNewsWire
Sierra Space chose the company to provide sensing technology and mission support for a missile defense program. This deal builds on the company's existing work with the Space Development Agency, a government group focused on space-based defense. While the specific dollar value was not shared, it reinforces the company's role as a key technical partner for advanced military space systems.
Source: PRNewsWire
Analysts updated their outlooks following the company's recent earnings report. Most analysts, 17 of 28, rate the stock a buy, and the average target price of $155 suggests a 14% gain from the current price.
Management has a perfect record of beating expectations over the last two years, often by a wide margin. This suggests they are consistently under-promising and over-delivering on their profit goals.
| Expectation | |
|---|---|
| EPS | $3.19 |
| Revenue | $4.71B |
