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Booz Allen (BAH) to Gain From EverWatch Buyout: Here's How
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Booz Allen HamiltonHolding Corporation (BAH - Free Report) recently announced that it inked a deal to purchase EverWatch, a portfolio company of Enlightenment Capital. Subject to customary closing conditions, the deal is anticipated to be complete during the first quarter of Booz Allen’s fiscal 2023. Financial terms of the deal have been kept under wraps.
Founded in 2017, EverWatch is a provider of advanced solutions to the defense and intelligence communities. It generates mission-critical classified platforms to provide protection against growing national cyber threats. The company is headquartered in Reston, VA.
Over the past year, shares of Booz Allen have gained 8.6%, outperforming 1.4% growth of the industry it belongs to.
Image Source: Zacks Investment Research
How Will Booz Allen Benefit?
The deal closure will see EverWatch operate as a wholly owned subsidiary of Booz Allen. EverWatch will be working closely with the National Security Sector of Booz Allen, led by sector president Judi Dotson.
EverWatch’s advanced software development and analytics capabilities combined with its skilled workforce should complement Booz Allen’s National Cyber platform. Aligned with Booz Allen’s VoLT strategy, EverWatch is expected to boost national security growth of the former. The combined strength should enable faster digital and cyber transformation for agencies in the intelligence community.
The acquisition is expected to enhance Booz Allen’s cyber, software development and analytics potential for strengthening national security services.
Matt Calderone, chief strategy officer at Booz Allen, stated, "EverWatch is an excellent strategic and cultural fit and this acquisition is a strategic accelerator well aligned with Booz Allen’s VoLT strategy, our investment thesis, and our expanding National Cyber platform capabilities."
Some better-ranked stocks in the broader Business Services sector that investors may consider are Cross Country Healthcare (CCRN - Free Report) , NV5 Global (NVEE - Free Report) and Clean Harbors (CLH - Free Report) , each currently sporting a Zacks Rank #1.
Cross Country Healthcare has a trailing four-quarter earnings surprise of 41.5%, on average.
CCRN’s shares have surged 73.1% in the past year. Cross Country Healthcare has a long-term earnings growth rate of 6.5%.
NV5 Global has an expected earnings growth rate of 6.1% for the current year. NVEE delivered a trailing four-quarter earnings surprise of 22.2%, on average.
The stock has surged 44.1% in the past year. NVEE has a long-term earnings growth rate of 14.2%.
Clean Harbors has an expected earnings growth rate of 17% for the current year. CLH has a trailing four-quarter earnings surprise of 43.2%, on average.
Shares of Clean Harbors have rallied 25.5% in the past year.
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Booz Allen (BAH) to Gain From EverWatch Buyout: Here's How
Booz Allen HamiltonHolding Corporation (BAH - Free Report) recently announced that it inked a deal to purchase EverWatch, a portfolio company of Enlightenment Capital. Subject to customary closing conditions, the deal is anticipated to be complete during the first quarter of Booz Allen’s fiscal 2023. Financial terms of the deal have been kept under wraps.
Founded in 2017, EverWatch is a provider of advanced solutions to the defense and intelligence communities. It generates mission-critical classified platforms to provide protection against growing national cyber threats. The company is headquartered in Reston, VA.
Over the past year, shares of Booz Allen have gained 8.6%, outperforming 1.4% growth of the industry it belongs to.
Image Source: Zacks Investment Research
How Will Booz Allen Benefit?
The deal closure will see EverWatch operate as a wholly owned subsidiary of Booz Allen. EverWatch will be working closely with the National Security Sector of Booz Allen, led by sector president Judi Dotson.
EverWatch’s advanced software development and analytics capabilities combined with its skilled workforce should complement Booz Allen’s National Cyber platform. Aligned with Booz Allen’s VoLT strategy, EverWatch is expected to boost national security growth of the former. The combined strength should enable faster digital and cyber transformation for agencies in the intelligence community.
The acquisition is expected to enhance Booz Allen’s cyber, software development and analytics potential for strengthening national security services.
Matt Calderone, chief strategy officer at Booz Allen, stated, "EverWatch is an excellent strategic and cultural fit and this acquisition is a strategic accelerator well aligned with Booz Allen’s VoLT strategy, our investment thesis, and our expanding National Cyber platform capabilities."
Zacks Rank and Stocks to Consider
Booz Allen currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Business Services sector that investors may consider are Cross Country Healthcare (CCRN - Free Report) , NV5 Global (NVEE - Free Report) and Clean Harbors (CLH - Free Report) , each currently sporting a Zacks Rank #1.
Cross Country Healthcare has a trailing four-quarter earnings surprise of 41.5%, on average.
CCRN’s shares have surged 73.1% in the past year. Cross Country Healthcare has a long-term earnings growth rate of 6.5%.
NV5 Global has an expected earnings growth rate of 6.1% for the current year. NVEE delivered a trailing four-quarter earnings surprise of 22.2%, on average.
The stock has surged 44.1% in the past year. NVEE has a long-term earnings growth rate of 14.2%.
Clean Harbors has an expected earnings growth rate of 17% for the current year. CLH has a trailing four-quarter earnings surprise of 43.2%, on average.
Shares of Clean Harbors have rallied 25.5% in the past year.