Parsons Corporation (PSN) Stock Price & How to Invest

Parsons Corporation is a technology-driven provider of services to the U.S. government and to owners of complex infrastructure. It reports in two segments: Federal Solutions, which delivers cybersecurity, missile defense, intelligence, space and ground systems, geospatial and signals intelligence, environmental remediation, and border and critical-infrastructure security, primarily to the Intelligence Community, the Departments of Defense, Energy, Homeland Security, and agencies like NASA and the FAA; and Critical Infrastructure, which provides program management, design and engineering, and owner's-representative support for large physical and digital projects worldwide. Federal Solutions has historically contributed a bit over half of revenue and Critical Infrastructure the rest, so the company sits at the intersection of national-security spending and infrastructure investment rather than any single commercial end market.

The investment picture in October 2026 is still a split-screen: solid underlying demand offset by one large contract rolling off. First-quarter 2026 revenue was about $1.49 billion, down roughly 4% year over year and around 8% organically, almost entirely because the confidential contract is winding down; the company also reported a record adjusted EBITDA margin near 10.1%, a 1.4x book-to-bill, and record backlog around $9.3 billion with that quarter. Second-quarter revenue recovered to about $1.58 billion, roughly flat year over year, and adjusted EPS of $0.86 beat the roughly $0.76 consensus, but the company booked a GAAP net loss of about $15 million for the quarter. Trailing twelve-month revenue is about $6.29 billion. The stock closed near $43.91 on October 16, 2026, down about 29% year to date and 47% over one year, and well below its 52-week high near $88. New wins have kept coming, including an $85 million agreement in September 2026 to deliver the new U.S. Space Command headquarters in Alabama, and third-quarter results are due October 28, 2026.

The most immediate risk is concentration: the wind-down of a single confidential contract was enough to turn organic growth negative in early 2026, showing how much one program can move results, and consensus now expects Q3 2026 revenue to fall about 10% from a year earlier. Because the U.S. government and its agencies drive the bulk of revenue, budget delays, continuing resolutions, contract recompetes, and shifting spending priorities are structural risks outside the company's control. The stock's roughly 50% drop from its 52-week high near $88 signals that investors are pricing in real uncertainty about replacing lost revenue, and any award-timing slippage could pressure it further. Reported profitability has thinned, with a GAAP loss in Q2 2026 and net debt of roughly $1.4 billion. Competition from larger, better-capitalized primes like Leidos and Booz Allen can squeeze win rates on the most attractive work. Finally, the forward multiple of about 13x assumes earnings rebound sharply in 2027, so if new bookings do not convert to revenue on schedule, that recovery could slip.

11 analysts publish price targets on PSN, averaging $58.36 against a $44.15 price as of October 2026, or +32.2%. The published targets run from $50.00 to $66.00, a narrow spread, and the ratings split 11 buy, 3 hold, 0 sell. Over the last six months there have been 2 raises and 8 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full PSN forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Parsons Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Backlog, book-to-bill, and new awards. Parsons reported record backlog near $9.3 billion and a 1.4x book-to-bill in both segments with its Q1 2026 results, meaning it booked far more new work than it burned. The most optimistic published target, $66.00, assumes this works close to its best case.

The case against. The most immediate risk is concentration: the wind-down of a single confidential contract was enough to turn organic growth negative in early 2026, showing how much one program can move results, and consensus now expects Q3 2026 revenue to fall about 10% from a year earlier. The most pessimistic target, $50.00, is roughly what PSN is worth if this bites instead.

Read the full bull and bear case on PSN, including what would have to change to break either one. Walnut is not an investment adviser.

No. Parsons Corporation (PSN) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Parsons Corporation's investor relations page or your broker.

• Revenue (TTM): ~$6.29 billion (Q2 2026 ~$1.58 billion, roughly flat year over year)
• Net income (TTM): ~$157 million (Q2 2026 GAAP net loss ~$15 million)
• Q2 2026 adjusted EPS: ~$0.86 vs ~$0.76 consensus
• Margins (TTM): ~22% gross, ~2.2% operating, ~2.5% net
• P/E (trailing / forward): ~30x / ~13x
• Market cap: ~$4.7 billion (stock ~$44, down ~47% over one year)
• Dividend: None
• Analyst 12-month target (avg): ~$58 (11 analysts, consensus rating Buy)

Figures are approximate and tied to the asOf date; verify live numbers before acting. At about 30x trailing GAAP earnings but only about 13x forward estimates, the valuation is a bet that 2027 earnings (consensus about $3.42 per share, up roughly 41%) recover as the confidential contract rolls off and new awards ramp. The average analyst target near $58 sits well above the price, but Q3 results on October 28, 2026 (consensus about $0.77 per share on $1.62 billion of revenue) are the next test of that timeline.

Other names that sit close to PSN: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get PSN exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so PSN sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where PSN fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Parsons is a backlog-rich government and infrastructure technology contractor whose adjusted earnings beats and new awards are being masked by the wind-down of one confidential contract and a GAAP loss in Q2 2026, so the story hinges on whether new work refills that gap (analysts model a rebound in 2027); how much government-spending sensitivity and single-contract concentration fit your portfolio is the real question.

Whether PSN is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is PSN a buy or a sell?, and where the stock could go from here in the PSN stock forecast.

For income investors, whether PSN pays a dividend and how the payout looks is covered in does PSN pay a dividend? And to weigh PSN against a peer, read the full side-by-side comparisons: PSN vs LDOS and PSN vs BAH.