10 Best Information Technology Services Stocks to Buy Right Now

8. Science Applications International Corporation (NASDAQ:SAIC)

Analyst Upside: 22.86%

No. of Hedge Fund Holders: 25

Science Applications International Corporation (NASDAQ:SAIC) provides technical, engineering, and enterprise information technology (IT) services mainly in the United States. The Business Intelligence Group named SAIC’s ReadyOne software a winning product at the 2024 BIG Innovation Awards. ReadyOne is a platform offering services to rapidly install and configure readily usable digital engineering ecosystems for engineering teams and stakeholders. This shows SAIC’s commitment to AI and adaptability to changing market trends.

Science Applications International Corporation (NASDAQ:SAIC) posted strong financial growth in FY2024, with full-year revenue reported around $7.44 billion, up by 7.4% year-over-year. Whereas, Q4 2024 revenue was $1.74 billion, indicating 7.7% organic growth from a year ago. This organic growth reflects the company’s ability to continue steady business expansion despite structural changes.

On January 8, Wells Fargo analyst Matthew Akers downgraded the price target on SAIC shares from $154 to $149, keeping an Overweight rating on the stock. The analyst remains optimistic about SAIC, however, funding concerns for U.S. defense and DOGE risk have led to a downgrade in price target.