Viasat (NASDAQ:VSAT – Get Free Report) had its price target cut by stock analysts at Needham & Company LLC from $60.00 to $50.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 63.67% from the company’s previous close.
Several other brokerages also recently issued reports on VSAT. Bank of America raised their price target on Viasat from $79.00 to $81.00 in a research report on Friday, May 26th. StockNews.com raised Viasat from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. TheStreet cut Viasat from a “c-” rating to a “d+” rating in a research report on Monday, July 24th. Raymond James reaffirmed a “market perform” rating on shares of Viasat in a research report on Thursday, July 13th. Finally, Barclays increased their price target on shares of Viasat from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, July 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Viasat has a consensus rating of “Hold” and an average price target of $51.75.
Get Our Latest Analysis on VSAT
Viasat Stock Performance
Viasat (NASDAQ:VSAT – Get Free Report) last issued its quarterly earnings data on Wednesday, May 17th. The communications equipment provider reported $15.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.41 by $1.15. Viasat had a net margin of 37.40% and a return on equity of 26.53%. The firm had revenue of $666.10 million during the quarter, compared to analysts’ expectations of $684.47 million. As a group, equities analysts anticipate that Viasat will post 1.11 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider Craig Andrew Miller sold 735 shares of Viasat stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $45.00, for a total transaction of $33,075.00. Following the sale, the insider now directly owns 9,949 shares in the company, valued at approximately $447,705. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,407 shares of company stock valued at $59,850 over the last ninety days. 3.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Viasat
Hedge funds and other institutional investors have recently modified their holdings of the stock. Belpointe Asset Management LLC acquired a new position in Viasat during the fourth quarter worth $29,000. Spire Wealth Management acquired a new stake in shares of Viasat during the 1st quarter worth about $34,000. Quadrant Capital Group LLC lifted its holdings in Viasat by 138.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 938 shares of the communications equipment provider’s stock valued at $39,000 after purchasing an additional 545 shares during the last quarter. Captrust Financial Advisors boosted its position in Viasat by 29.2% in the second quarter. Captrust Financial Advisors now owns 1,313 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 297 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC bought a new stake in Viasat during the first quarter worth about $42,000. Institutional investors own 88.91% 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.
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