Needham & Company LLC Issues Pessimistic Forecast for Viasat (NASDAQ:VSAT) Stock Price

Viasat (NASDAQ:VSAT) had its target price lowered by investment analysts at Needham & Company LLC from $19.00 to $16.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 74.86% from the company’s previous close.

VSAT has been the subject of a number of other reports. William Blair reiterated a “market perform” rating on shares of Viasat in a report on Tuesday, April 15th. Wall Street Zen upgraded shares of Viasat from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Monday, March 24th. Cantor Fitzgerald began coverage on shares of Viasat in a report on Friday, January 24th. They issued a “neutral” rating and a $12.00 price target on the stock. Finally, Barclays upped their price target on Viasat from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Viasat currently has a consensus rating of “Hold” and a consensus target price of $14.14.

Viasat Trading Down 9.2%

VSAT opened at $9.15 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 1.35. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -2.72 and a beta of 1.01. Viasat has a 12 month low of $6.69 and a 12 month high of $26.70. The stock has a fifty day moving average price of $9.49 and a 200-day moving average price of $9.29.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its stake in shares of Viasat by 75.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 1,267 shares during the period. Venturi Wealth Management LLC purchased a new position in Viasat in the 4th quarter worth $31,000. PNC Financial Services Group Inc. lifted its position in Viasat by 233.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 2,224 shares during the period. Sterling Capital Management LLC lifted its position in Viasat by 850.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 3,546 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Viasat in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Company Profile

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.