Perspecta Inc’s research unit, Perspecta Labs, has won multiple contracts from the Department of Defense (DOD). These include large-scale experimentation and prototyping of dual-use 5G technology.
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Perspecta Labs (PRSP) President, Petros Mouchtaris, Ph.D., said, “Operational scale experimentation and testing are critical to achieving the potential of commercial 5G infrastructure, health care, and manufacturing.”
Mouchtaris added, “Perspecta Labs is excited to design, implement and deploy dual-use 5G prototypes at DOD test sites as part of the world’s largest full-scale 5G experiments.” (See Perspecta stock analysis on TipRanks)
The company won a total of four contracts. Of these, two prime contracts have an $8.1 million value combined, with a 39 month duration. Perspecta will be a subcontractor for the remaining two contracts.
The two prime contracts include developing a 5G-enabled smart warehouse at the Naval Base Coronado in California and an intelligent 5G system control at Hill Air Force Base (HFAB), Utah.
Additionally, last month, Perspecta also received a $201.5 million contract from the Defense Information Systems Agency (DISA) to deliver content to warfighters across the globe.
Recently, Cowen & Co. Analyst Gautam Khanna reiterated a Hold rating on the stock with a $26 price target (10.8% downside potential).
Turning to the rest of the Street, the stock has a Hold consensus rating alongside an average analyst price target of $28.23 (3.2% downside potential), based on 3 unanimous Holds. Shares have gained about 73.2% over the past year.
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