Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Parsons Corp. (PSN) stock price noted more than 12% price gain which dropped to 0.29% in its 1-month price analysis.</a> </li> 
 <li> <span>2</span> <a>In this week, the PSN stock price noted a 0.40% price drop which slowed its price growth of this week.</a> </li> 
</ul> 
<p>Parsons Corp. (PSN) stock price was performing bullish since the last 1-year as its 1-year price growth is over 17%. The year-to-date (YTD) price growth dropped more than half of its 1-year price growth. Moreover, this week, the PSN stock price showed bears with more activity, due to which the stock price reached closer to its 20-day moving average.</p> 
<h2 class="wp-block-heading" id="strong-psn-stock-price-analysis-strong"><strong>PSN Stock Price Analysis</strong></h2> 
<p>Parsons Corp. (PSN)<a href="https://www.thecoinrepublic.com/2023/07/20/latam-stock-price-performed-bullish-with-over-55-ytd-growth/" rel="noopener noreferrer nofollow"> stock price </a>opened at $47.47 and closed at $47.64 on July 20, 2023, with a 0.53% price gain in yesterday’s trading session. PSN share price marked yesterday’s high at $47.65 while low was $47.36, and majority of bulls were active during the intraday trading session, as per the data sourced from TradingView, a web-based social network for traders.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/DeA9x9Ivb-qriYryhaAsC3-nMKP-F7ldBoUIdw7IZQ9VdskZoWM9XZtaiUcwqEIc7Aw8vN0WI3XLHB4AShbO0FpRGe4ig3GGPhOAsyFICIhtGX2IsXEZdUgDYiJoVA-6myqkEsyYFG1uKDPF-kjQdQ" alt="Parsons (PSN) Stock Price Showed Bearishness in Recent 1-Week"> 
  <figcaption class="wp-element-caption"> <strong>Source: PSN/USD by TradingView</strong> 
  </figcaption> 
 </figure> 
</div> 
<p>As the above price chart shows, since the beginning of this month, PSN stock price is nearing its 20-day moving average. Meanwhile, the recent week’s bearish performance tried to pull the stock price slightly below to its 20-day moving average. On the other hand, Parsons Corp. will soon release its Q2 2023 report thus ahead of which more price fluctuation can be expected.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter is-resized"> 
  <img decoding="async" loading="lazy" src="https://lh5.googleusercontent.com/fh_b3VanyuYw3MVMcw4xMI3oZ0ZzerY76FuA0bwx1mUKO-CYfN4JVKI-RtQzTe56dML5OjGvvnO8cXMYYYatWYvynuubHdd39EcUgJs-bPxHI-_BStweStBj6SkhRPzWE-W0ZU6pJ-jXejZcfkid9g" alt="Parsons (PSN) Stock Price Showed Bearishness in Recent 1-Week" width="1170" height="541"> 
  <figcaption class="wp-element-caption"> <strong>Source: Price Target of PSN Stock by TradingView</strong> 
  </figcaption> 
 </figure> 
</div> 
<p>The 1-year price target set by the analysts is at $51.89, which is over 8% from the recent closing price of the PSN stock. The maximum price estimate of analysts is resting at $55.00 whereas the minimum estimate is at $46.00. Additionally, in the past 3-months, analysts have given a “buy” rating to Parsons Corporation.</p> 
<h2 class="wp-block-heading" id="strong-the-fundamentals-of-parsons-corp-strong"><strong>The Fundamentals of Parsons Corp.</strong></h2> 
<p>Parsons Corp. (NYSE: PSN), an engineering, construction, technical, and management services company, has a market cap of nearly $4.99 Billion. Earlier in May 2023, the company released its Q1 2023 report that stated its net income to be $25.55 Million in the quarter. The PSN price-to-sales ratio is 1.23. The company has an Enterprise Value to EBITDA ratio of 18.27.</p> 
<p>Moreover, in Q1 2023, the company reported its earnings per share (EPS) is $0.43 whereas the estimation was $0.43, which accounts for a 0.94% surprise. The revenue for the same period amounts to $1.17 Billion, despite the estimated figure of $1.06 Billion. For the upcoming Q2 2023, the estimated EPS is $0.51, and revenue is expected to reach $1.13 Billion.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter is-resized"> 
  <img decoding="async" loading="lazy" src="https://lh3.googleusercontent.com/AP7IVi_XTrs2lqG2so1ZZdm56dm1QbLtBKjZs-uO7DyYVNKf7lzwtdggTr8k99HEcPWYje3ZTnPtem7STU1F20GRVaGa22-0zBQM-vMjvfPXqjpw0eVRK3ZDbSkrFkc-HMoEG7Iw-NwJ72IiaeBYbQ" alt="Parsons (PSN) Stock Price Showed Bearishness in Recent 1-Week" width="1169" height="352"> 
  <figcaption class="wp-element-caption"> <strong>Source:&nbsp; Information Technology Services Stocks by TradingView</strong> 
  </figcaption> 
 </figure> 
</div> 
<p>As shown in the above price chart, besides the PSN <a href="https://www.thecoinrepublic.com/2023/07/20/teladoc-health-tdoc-stock-noted-increased-bears-dominance/" target="_blank" rel="noopener noreferrer nofollow">stock price</a>, many other information technology services stock prices have shown bearish trends in their weekly price analysis. Some of them as seen in the chart are KBR, Inc. (NYSE: KBR), Cognizant Technology Solutions Corp. (NASDAQ: CTSH), Formula Systems 1985 Ltd (NASDAQ: FORTY), Xunlei Ltd (NASDAQ: XNET) and Insight Enterprises, Inc. (NASDAQ: NSIT).</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

Parsons (PSN) Stock Price Showed Bearishness in Recent 1-Week

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