Brokerages Set Viasat Inc. (NASDAQ:VSAT) Price Target at $84.11

Viasat Inc. (NASDAQ:VSAT) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $84.1111.

VSAT has been the subject of a number of research analyst reports. Barclays set a $49.00 price objective on Viasat in a report on Friday, May 29th. New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. Needham & Company LLC boosted their price target on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Oppenheimer assumed coverage on Viasat in a research note on Monday, June 29th. They set an “outperform” rating and a $140.00 price target for the company. Finally, B. Riley Financial raised their price objective on Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 29th.

Viasat Price Performance

Viasat stock opened at $71.48 on Friday. Viasat has a 1 year low of $14.00 and a 1 year high of $93.03. The firm has a 50 day moving average price of $71.94 and a 200 day moving average price of $56.97. The company has a market cap of $9.76 billion, a price-to-earnings ratio of -246.48 and a beta of 1.70. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41.

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

Insider Activity

In other Viasat news, Director Theresa Wise sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $69.00, for a total transaction of $172,500.00. Following the completion of the sale, the director directly owned 11,000 shares in the company, valued at $759,000. The trade was a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark D. Dankberg sold 400,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the completion of the sale, the chief executive officer directly owned 1,082,196 shares of the company’s stock, valued at $70,083,012.96. The trade was a 26.99% decrease in their position. 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. In the last 90 days, insiders have sold 438,803 shares of company stock worth $28,655,600. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Viasat

A number of hedge funds have recently made changes to their positions in VSAT. Valued Wealth Advisors LLC purchased a new stake in Viasat during the 1st quarter worth $25,000. Elevation Wealth Partners LLC lifted its stake in shares of Viasat by 935.3% during the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 318 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Viasat during the fourth quarter worth about $36,000. Los Angeles Capital Management LLC purchased a new stake in shares of Viasat in the fourth quarter worth about $38,000. Finally, EFG International AG purchased a new stake in shares of Viasat in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

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.