Science Applications International Corporation (SAIC - Free Report) on Thursday revealed that the Space Development Agency (“SDA”) has selected it for developing a software application factory for the agency’s constellation of low-earth orbit satellites under a contract worth $64 million.
To avoid confusion, SAIC will not build an actual factory but a cloud-based development process, the Battle Management Command, Control and Communications (“BMC3”) Application Factory. Through BMC3’s DevSecOps process, SDA will be able to deliver software to its constellation in the low-earth orbit, the Proliferated Warfighter Space Architecture (“PWSA”).
Under the PWSA program, SDA is developing a layered network of military satellites, which includes missile warning, tracking sensors and data transfer. Through SAIC’s BMC3 DevSecOps process, SDA will be able to design, test and upgrade applications using a repeatable path.
SAIC is benefiting from the continued flow of high-value contracts. A record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. As of May 5, 2023, the company’s total contract backlog was $23.8 billion.
SAIC is currently focusing on the federal government marketplace and capturing more market share. It intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening existing customer relationships while building newer ones. Increased federal spending is anticipated to accelerate the pace of contract awards, which will be beneficial for SAIC’s top line.
Last month, SAIC grabbed a contract worth $249 million from the U.S. Navy to continue supporting the Naval Air Warfare Center Weapons Division’s combat instrumentation platforms used for training and test evaluation ranges. In April 2023, the company was awarded an $889 million contract by the Federal Systems Integration and Management Center in support of the Defense Counterintelligence and Security Agency to develop and implement One IT, which provides IT modernization to the agency’s systems.
Zacks Rank & Stocks to Consider
SAIC currently carries a Zacks Rank #3 (Hold). Shares of the company have declined 5.3% year to date (YTD).
Some better-ranked stocks from the broader technology sector are Meta Platforms (META - Free Report) , Manhattan Associates (MANH - Free Report) and Blackbaud (BLKB - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
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Meta’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 15.5%. Shares of META have surged 119.8% YTD.
The Zacks Consensus Estimate for Manhattan Associates' second-quarter 2023 earnings has been revised upward by a couple of cents to 72 cents per share for the past 60 days. For 2023, earnings estimates have moved upward by 17 cents to $2.87 per share in the past 60 days.
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Blackbaud's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10.4%. Shares of BLKB have rallied 24 % YTD.
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Science Applications International Corporation (SAIC - Free Report) on Thursday revealed that the Space Development Agency (“SDA”) has selected it for developing a software application factory for the agency’s constellation of low-earth orbit satellites under a contract worth $64 million.
To avoid confusion, SAIC will not build an actual factory but a cloud-based development process, the Battle Management Command, Control and Communications (“BMC3”) Application Factory. Through BMC3’s DevSecOps process, SDA will be able to deliver software to its constellation in the low-earth orbit, the Proliferated Warfighter Space Architecture (“PWSA”).
Under the PWSA program, SDA is developing a layered network of military satellites, which includes missile warning, tracking sensors and data transfer. Through SAIC’s BMC3 DevSecOps process, SDA will be able to design, test and upgrade applications using a repeatable path.
SAIC is benefiting from the continued flow of high-value contracts. A record level of awards reflects its disciplined business-development actions, consistent operational excellence and high customer satisfaction. As of May 5, 2023, the company’s total contract backlog was $23.8 billion.
SAIC is currently focusing on the federal government marketplace and capturing more market share. It intends to drive operational excellence by intensively focusing on its organic and inorganic growth strategy and strengthening existing customer relationships while building newer ones. Increased federal spending is anticipated to accelerate the pace of contract awards, which will be beneficial for SAIC’s top line.
Last month, SAIC grabbed a contract worth $249 million from the U.S. Navy to continue supporting the Naval Air Warfare Center Weapons Division’s combat instrumentation platforms used for training and test evaluation ranges. In April 2023, the company was awarded an $889 million contract by the Federal Systems Integration and Management Center in support of the Defense Counterintelligence and Security Agency to develop and implement One IT, which provides IT modernization to the agency’s systems.
Zacks Rank & Stocks to Consider
SAIC currently carries a Zacks Rank #3 (Hold). Shares of the company have declined 5.3% year to date (YTD).
Some better-ranked stocks from the broader technology sector are Meta Platforms (META - Free Report) , Manhattan Associates (MANH - Free Report) and Blackbaud (BLKB - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta's second-quarter 2023 earnings has been revised 5 cents southward to $2.82 per share in the past seven days. For 2023, earnings estimates have been lowered by 11 cents to $11.93 per share in the past seven days.
Meta’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 15.5%. Shares of META have surged 119.8% YTD.
The Zacks Consensus Estimate for Manhattan Associates' second-quarter 2023 earnings has been revised upward by a couple of cents to 72 cents per share for the past 60 days. For 2023, earnings estimates have moved upward by 17 cents to $2.87 per share in the past 60 days.
Manhattan Associates' earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 33.6%. Shares of MANH have soared 52.8% YTD.
The Zacks Consensus Estimate for Blackbaud’s second-quarter 2023 earnings has been revised 2 cents northward to 93 cents per share in the past 30 days. For 2023, earnings estimates increased 30 days ago to $3.75 per share from $3.68.
Blackbaud's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10.4%. Shares of BLKB have rallied 24 % YTD.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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