Citigroup Cuts Science Applications International (NASDAQ:SAIC) Price Target to $120.00

Science Applications International (NASDAQ:SAIC) had its target price cut by equities research analysts at Citigroup from $133.00 to $120.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 20.28% from the stock’s previous close.

A number of other brokerages also recently commented on SAIC. Zacks Research downgraded shares of Science Applications International from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. The Goldman Sachs Group lowered their price target on Science Applications International from $94.00 to $82.00 and set a “sell” rating for the company in a report on Thursday, February 12th. Stifel Nicolaus cut their price objective on Science Applications International from $128.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. UBS Group boosted their price objective on Science Applications International from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Monday, December 8th. Finally, Truist Financial decreased their target price on Science Applications International from $110.00 to $95.00 and set a “hold” rating for the company in a research report on Tuesday, March 17th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Science Applications International currently has an average rating of “Hold” and an average target price of $112.44.

Science Applications International Trading Up 2.5%

Shares of NASDAQ:SAIC traded up $2.45 during trading on Thursday, reaching $99.77. 130,999 shares of the stock were exchanged, compared to its average volume of 672,805. The firm’s 50-day moving average price is $94.78 and its 200 day moving average price is $97.08. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 13.00 and a beta of 0.30. Science Applications International has a 12-month low of $81.08 and a 12-month high of $124.11. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.20 and a current ratio of 1.20.

Science Applications International (NASDAQ:SAIC) last announced its quarterly earnings results on Monday, March 16th. The company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. Science Applications International had a net margin of 4.93% and a return on equity of 33.15%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the company posted $2.57 earnings per share. Science Applications International’s revenue was down 4.8% compared to the same quarter last year.

Hedge Funds Weigh In On Science Applications International

A number of institutional investors have recently made changes to their positions in the business. Cresset Asset Management LLC boosted its stake in Science Applications International by 4.4% in the second quarter. Cresset Asset Management LLC now owns 2,075 shares of the company’s stock valued at $234,000 after acquiring an additional 88 shares during the period. Focus Partners Wealth raised its position in shares of Science Applications International by 3.3% during the 1st quarter. Focus Partners Wealth now owns 2,900 shares of the company’s stock worth $326,000 after purchasing an additional 94 shares during the period. Lido Advisors LLC lifted its holdings in shares of Science Applications International by 1.7% in the 2nd quarter. Lido Advisors LLC now owns 6,437 shares of the company’s stock worth $725,000 after purchasing an additional 107 shares during the last quarter. International Assets Investment Management LLC boosted its position in Science Applications International by 5.5% during the 4th quarter. International Assets Investment Management LLC now owns 2,120 shares of the company’s stock valued at $213,000 after purchasing an additional 111 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in Science Applications International by 3.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,173 shares of the company’s stock valued at $319,000 after purchasing an additional 115 shares during the period. 76.00% of the stock is owned by institutional investors and hedge funds.

Science Applications International Company Profile

Science Applications International Corp. (SAIC) is a leading provider of technical, engineering, and enterprise IT services to the U.S. government, including the Department of Defense, the intelligence community, and civilian agencies. The company’s core offerings encompass systems engineering and integration, mission support, cybersecurity, data analytics, and cloud solutions. SAIC’s work spans the full program lifecycle, from research and development to deployment and sustainment, addressing complex defense, space, and national security challenges.

Founded in 1969 by J.