Parsons Wins $514M Missile Defense Agency Contract Option

SealingTech, a Parsons Corporation subsidiary, won a $750M contract from USCYBERCOM for the Joint Cyber Hunt Kit. The five-year deal highlights SealingTech's expertise in deployable cyber defense solutions, according to the company. Parsons' Cyber and Electronic Warfare market contributes over 20% of its revenue.

Parsons Corporation (PSN) shares traded flat Monday as a $514M missile-defense contract option competed with broader U.S. equity weakness. The 2-year contract is an option under an existing agreement. PSN shares are down 39% over the past year, trading below key moving averages. Analysts have mixed ratings and price targets, with a consensus Buy rating and $59.14 average target.

Parsons (NYSE:PSN) shares traded flat on Monday. The company secured a $514M missile-defense contract option, but broader market weakness limited gains. PSN is down 39% over the past year, with key resistance at $49.50 and support at $48.00. Analysts have a Buy consensus rating with an average price target of $59.14.

Parsons has been awarded a share of a $981M contract by the U.S. Space Force for the NITE-STAR program, which aims to develop advanced space test and training capabilities. The contract includes two five-year ordering periods. Parsons will collaborate with several partners to support the development, integration, and deployment of space vehicle and ground system technologies. According to the company, this contract builds on its extensive experience in national security space missions.

Parsons Corporation (PSN) secured a $514M contract option from the Missile Defense Agency for engineering and technical support, extending its 2021 TEAMS contract. The company will provide support for the U.S. integrated Missile Defense System, addressing evolving threats. This contract underscores Parsons' role as a key provider of advanced systems engineering and technical expertise.

Parsons (NYSE: PSN) secured a $514 million, two-year contract option from the Missile Defense Agency (MDA) to continue providing engineering, technical, and oversight support for the U.S. integrated Missile Defense System. The contract covers advanced systems engineering and solutions to protect against ballistic and hypersonic threats across multiple domains.