U.S. Treasury Cancels Contracts with Booz Allen Hamilton
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: Benzinga
- Contract Cancellation: U.S. Treasury Secretary Scott Bessent announced the cancellation of 31 contracts with Booz Allen Hamilton, totaling $21 million in obligations and $4.8 million in annual spending, aimed at tightening oversight of government contractors and restoring public trust.
- Data Breach Incident: Booz Allen faced criticism for failing to protect sensitive taxpayer data, linked to former employee Charles Littlejohn leaking confidential tax information of approximately 406,000 taxpayers between 2018 and 2020, highlighting significant data security concerns.
- Legal Consequences: Littlejohn pleaded guilty to felony charges for unauthorized disclosure of confidential tax information and was sentenced to five years in prison, underscoring the importance of contractor accountability and data protection, which may impact future government contract awards.
- Stock Price Fluctuation: Despite Booz Allen's fiscal year revenue of $12 billion, the canceled contracts represent a small fraction, yet the stock dropped 8.12% on Monday to close at $93.93, reflecting market concerns over governance and data security.
Discover Tomorrow's Bullish Stocks Today
Receive free daily stock recommendations and professional analysis to optimize your portfolio's potential.
Sign up now to unlock expert insights and stay one step ahead of the market trends.
Analyst Views on BAH
Wall Street analysts forecast BAH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BAH is 99.20 USD with a low forecast of 80.00 USD and a high forecast of 160.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
2 Buy
7 Hold
3 Sell
Hold
Current: 91.100
Low
80.00
Averages
99.20
High
160.00
Current: 91.100
Low
80.00
Averages
99.20
High
160.00
About BAH
Booz Allen Hamilton Holding Corporation is the parent company of management and technology consulting and engineering services firm, Booz Allen Hamilton Inc. It provides management and technology consulting, analytics, engineering, digital solutions, mission operations, and cyber services to U.S. and international governments. Its solutions include artificial intelligence, cloud, digital customer experience, elite training, enterprise DevSecOps, JADC2, mission readiness, security and workforce of the future. It supports critical missions for a range of federal government clients, including nearly all the U.S. government's cabinet-level departments, as well as for commercial clients, both domestically and internationally. It supports its federal government clients by helping them tackle challenges such as protecting soldiers in combat and supporting their families. It also provides technologies to evolve defense missions and delivers solutions to warfighters in the digital battlespace.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Quantum Secure Encryption Corp. Seizes Major Opportunities Amid Pentagon Cyber Funding Surge
- Defense Budget Surge: The Pentagon's cyber security budget skyrockets to $15.1 billion in 2026, prompting defense leaders to accelerate the development of quantum-resilient systems to counter AI-driven hacking, thereby creating significant market opportunities for companies like QSE.
- Industry Collaboration: QSE's membership in the Canadian Association of Defence and Security Industries provides access to senior decision-makers within the Canadian Armed Forces and international defense partners, aiming to expedite the deployment of post-quantum cryptography and enhance competitive positioning.
- Technology Readiness: QSE's technology platform is market-ready and holds Level 2 Certification under the CyberSecure Canada program, ensuring robust technical support and market adaptability as it pursues global expansion.
- Massive Market Potential: The global post-quantum cryptography market is projected to reach $17.69 billion by 2034, and with a recent financing round of C$2.8 million, QSE is fully funded to execute its global expansion roadmap throughout 2026.
Continue Reading
Quantum Secure Encryption Corp. Seizes Major Opportunities Amid Pentagon Cyber Funding Surge
- Defense Budget Surge: The Pentagon's cyber security budget jumps to $15.1 billion in 2026, prompting defense leaders to accelerate the development of quantum-resilient systems to counter AI-driven hacking, significantly heightening national security urgency.
- Market Opportunity Emerges: Quantum Secure Encryption Corp. (QSE) joins the Canadian Association of Defence and Security Industries (CADSI), gaining access to decision-makers across over 900 companies, which is expected to enhance its pivotal role in national security architecture and drive revenue growth.
- Technology Readiness: QSE's technology platform is market-ready and holds Level 2 Certification under the CyberSecure Canada program, ensuring competitiveness in its global expansion roadmap, with the post-quantum cryptography market projected to reach $17.69 billion by 2034.
- International Collaboration Accelerates: Through a strategic partnership with NUSA Networks, QSE rapidly enters the Indonesian market, leveraging its technology applications in critical infrastructure to further solidify its position in the global cybersecurity landscape.
Continue Reading