Viasat (NASDAQ:VSAT) Shares Gap Up – What’s Next?

Viasat Inc. (NASDAQ:VSAT) shares gapped up prior to trading on Monday . The stock had previously closed at $61.95, but opened at $67.39. Viasat shares last traded at $71.2860, with a volume of 657,039 shares trading hands.

Trending Headlines about Viasat

Here are the key news stories impacting Viasat this week:

• Positive Sentiment: Viasat partnered with Magnite to bring programmatic advertising to in-flight Wi-Fi, creating a new monetization opportunity for its connectivity platform. Viasat (VSAT) Partners With Magnite To Bring Programmatic Ads To In Flight Wi Fi
• Positive Sentiment: Investors are reacting to recent U.S. Space Force contract wins, which strengthen Viasat’s secure satellite communications business and support a more bullish outlook for defense-related revenue. Viasat stock jumps as Space Force wins fuel bullish analyst outlook
• Positive Sentiment: Oppenheimer initiated coverage with an Outperform rating and a $140 price target, signaling meaningful upside from recent trading levels and helping fuel the rally. Finviz coverage reference
• Positive Sentiment: Options activity surged, with traders buying far more call options than usual, a sign that some market participants are betting on continued upside in VSAT.
• Neutral Sentiment: Analysts are debating Viasat’s long-term role in the satellite spectrum market, and commentary around the Rocket Lab-Iridium deal has added attention to the sector, though the direct impact on Viasat is less certain. VSAT stock clocks best day in over 10 months
• Negative Sentiment: Some recent commentary urged investors to sell VSAT, suggesting not all market participants are convinced the rally is sustainable. 3 reasons to sell VSAT and 1 stock to buy instead

Wall Street Analyst Weigh In

VSAT has been the topic of a number of research analyst reports. Needham & Company LLC upped their target price on shares of Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a report on Monday, June 1st. Barclays set a $49.00 price target on Viasat in a report on Friday, May 29th. B. Riley Financial upped their price objective on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Oppenheimer initiated coverage on Viasat in a research report on Monday. They issued an “outperform” rating and a $140.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $97.00 target price on shares of Viasat in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Viasat presently has an average rating of “Moderate Buy” and a consensus price target of $84.11.

Viasat Stock Up 17.1%

The firm has a market cap of $12.27 billion, a P/E ratio of -309.69 and a beta of 1.71. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41. The firm’s fifty day moving average is $68.89 and its 200 day moving average is $53.28.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned ($0.02) earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Viasat

In related news, Director Richard A. Baldridge sold 27,122 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $1,945,732.28. Following the transaction, the director directly owned 213,355 shares in the company, valued at approximately $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John P. Stenbit sold 653 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total transaction of $46,846.22. Following the transaction, the director directly owned 29,597 shares in the company, valued at approximately $2,123,288.78. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 438,275 shares of company stock worth $28,608,719 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Viasat

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Valued Wealth Advisors LLC bought a new stake in shares of Viasat during the 1st quarter valued at $25,000. Pilgrim Partners Asia Pte Ltd bought a new position in Viasat in the 4th quarter valued at about $36,000. Los Angeles Capital Management LLC acquired a new position in shares of Viasat in the 4th quarter valued at approximately $38,000. International Assets Investment Management LLC bought a new stake in shares of Viasat during the 1st quarter worth approximately $51,000. Finally, EFG International AG bought a new stake in shares of Viasat during the 4th quarter worth approximately $41,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.