Science Applications International Corp. (NYSE: SAIC) Price Target Increased at Citigroup Inc.

Science Applications International Corp. (NYSE: SAIC) had its price target raised by equities researchers at Citigroup Inc. from $67.00 to $79.00. The company currently has a rating of Buy on the shares. A number of other analysts have issued reports on the company recently, and the company has earned a consensus one-year price target of $65.40, lower than the opening price of $68.68, a difference of 9.78 percent. Science Applications International Corp. stock has a 52-week high of $72.50.

U.S. equities saw their biggest selloff since June 24, (Brexit) on Friday after comments from a voting member of the Federal Reserve’s policy-setting committee suggested a September rate hike was still a possibility.

The Dow Jones Industrial Average dropped 394 points, or 2.13% to 18085.

The S&P 500 shed 53 points, or 2.45% to 2127, while the Nasdaq Composite erased 133 points, or 2.54% to 5125.

Stocks were no alone in declines on Friday.

Global oil prices, after rallying Thursday, dropped more than 3% Friday to trade just above $45 a barrel.

Gold prices also traded lower, shedding more than 0.6% to trade around $1,332.

Typically, after analysts publish an “initiating coverage” report on a stock, they will subsequently issue periodic updates.

Shares of Science Applications International Corp. (NYSE: SAIC) opened at $68.68 yesterday and traded in a range between, $66.85 and $68.80, and last traded at $66.86, which represents a change of $ -2.79 over the previous closing price.

Science Applications International Corp. (NYSE: SAIC) now has a market cap of 3.00B

The stocks average daily volume is 250,564 shares out of a total float 44,320,000 of and some 429,127 shares traded hands yesterday, 90 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re researching.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.

With that in mind Science Applications International Corp. (NYSE: SAIC) now has a 50-day MA is $62.46 and 200-day MA is $55.39, and it has traded in a 52-week range between $39.28 – 72.50 and today’s last price is -0.08 percent off the 52 week high of $72.50.

Earnings growth is an important factor to look at when buying stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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