Viasat, Inc. (NASDAQ:VSAT) Receives $22.33 Consensus Price Target from Brokerages

Shares of Viasat, Inc. (NASDAQ:VSAT) have earned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $22.33.

A number of research firms have commented on VSAT. StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Bank of America lowered their target price on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Morgan Stanley cut their price target on Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of Viasat in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. lowered Viasat from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th.

Viasat Price Performance

Shares of Viasat stock opened at $11.26 on Friday. The stock has a market cap of $1.42 billion, a P/E ratio of -1.28 and a beta of 1.34. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.78 and a current ratio of 3.08. The stock’s fifty day moving average is $15.34 and its 200 day moving average is $15.83. Viasat has a one year low of $10.73 and a one year high of $29.11.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.16. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned ($0.83) earnings per share. The business’s revenue for the quarter was up 41.1% compared to the same quarter last year. Sell-side analysts anticipate that Viasat will post -1.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the completion of the transaction, the insider now directly owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Viasat

Large investors have recently bought and sold shares of the business. TFO Wealth Partners LLC grew its stake in shares of Viasat by 11,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock worth $47,000 after buying an additional 1,655 shares in the last quarter. Quest Partners LLC bought a new position in shares of Viasat in the 2nd quarter valued at about $29,000. GAMMA Investing LLC grew its position in Viasat by 176.3% in the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 1,772 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Viasat by 49.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock worth $112,000 after acquiring an additional 1,335 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Viasat during the second quarter valued at approximately $61,000. Institutional investors own 86.05% of the company’s stock.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.