Viasat Inc. (NASDAQ:VSAT) Receives $90.67 Consensus Price Target from Brokerages

Shares of Viasat Inc. (NASDAQ:VSAT) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $90.6667.

A number of research analysts have recently weighed in on VSAT shares. Zacks Research raised shares of Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Barclays set a $49.00 price target on shares of Viasat in a report on Friday, May 29th. Morgan Stanley set a $95.00 price objective on Viasat in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Finally, Needham & Company LLC raised their target price on Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Insider Activity

In related news, SVP Benjamin Edward Palmer sold 2,400 shares of Viasat stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $75.46, for a total value of $181,104.00. Following the completion of the sale, the senior vice president owned 21,159 shares of the company’s stock, valued at approximately $1,596,658.14. This trade represents a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark D. Dankberg sold 400,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $64.76, for a total value of $25,904,000.00. Following the completion of the sale, the chief executive officer owned 1,082,196 shares in the company, valued at $70,083,012.96. This represents a 26.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 671,861 shares of company stock worth $47,405,788. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viasat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VSAT. Magnolia Capital Advisors LLC bought a new stake in shares of Viasat in the second quarter valued at approximately $234,000. Gallagher Fiduciary Advisors LLC purchased a new stake in shares of Viasat during the 2nd quarter valued at approximately $448,000. Odyssean LLC bought a new position in Viasat in the 2nd quarter worth approximately $1,266,000. Man Group plc bought a new position in Viasat in the 2nd quarter worth approximately $12,909,000. Finally, Jupiter Topco LLC purchased a new position in Viasat in the 2nd quarter valued at approximately $4,729,000. Institutional investors own 86.05% of the company’s stock.

Viasat Price Performance

Shares of NASDAQ:VSAT opened at $82.87 on Tuesday. The company has a market capitalization of $11.42 billion, a P/E ratio of -345.29 and a beta of 1.72. The company’s 50-day moving average is $73.64 and its 200 day moving average is $62.14. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.52 and a current ratio of 1.68. Viasat has a fifty-two week low of $25.50 and a fifty-two week high of $93.03.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. On average, equities research analysts forecast that Viasat will post -0.36 earnings per share for the current year.

About Viasat

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.