Viasat Inc. (NASDAQ:VSAT) Stock Has Average Price Target of $90.67

Key Points

• Analysts have a “Moderate Buy” consensus on Viasat, with seven buy ratings, one strong buy, two holds and one sell. The average 12-month price target is $90.67, though targets range from $95 to $140 among recent analysts.
• Viasat’s latest quarterly results beat expectations on earnings, reporting $0.17 EPS versus the $0.10 consensus, but revenue of $1.16 billion fell short of estimates and declined 1.2% year over year.
• Insiders sold substantial shares during the quarter, including a director’s sale worth approximately $18.0 million; insiders own 1.40% of the stock, while institutional investors hold 86.05%.

Shares of Viasat Inc. (NASDAQ:VSAT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eleven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $90.67.

Several analysts recently commented on the company. Morgan Stanley set a $95.00 price objective on Viasat in a research note on Monday, August 10th. Wall Street Zen lowered Viasat from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a report on Thursday, October 15th. Oppenheimer initiated coverage on shares of Viasat in a research report on Monday, June 29th. They set an "outperform" rating and a $140.00 price objective for the company. Finally, Needham & Company LLC upped their target price on shares of Viasat from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th.

Insider Activity

In other news, SVP Benjamin Palmer sold 2,400 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total transaction of $181,104.00. Following the sale, the senior vice president owned 21,159 shares in the company, valued at $1,596,658.14. This represents a 10.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard A. Baldridge sold 223,542 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $80.62, for a total transaction of $18,021,956.04. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 257,656 shares of company stock worth $20,475,905. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VSAT. Versant Capital Management Inc grew its position in shares of Viasat by 4.0% during the 3rd quarter. Versant Capital Management Inc now owns 5,140 shares of the communications equipment provider's stock worth $362,000 after purchasing an additional 200 shares in the last quarter. Cetera Investment Advisers grew its position in Viasat by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider's stock worth $394,000 after acquiring an additional 217 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Viasat by 0.9% during the second quarter. Arizona State Retirement System now owns 31,858 shares of the communications equipment provider's stock worth $2,861,000 after purchasing an additional 278 shares during the period. Elevation Wealth Partners LLC lifted its stake in shares of Viasat by 935.3% in the second quarter. Elevation Wealth Partners LLC now owns 352 shares of the communications equipment provider's stock worth $32,000 after acquiring an additional 318 shares during the period. Finally, Aberdeen Wealth Management LLC acquired a new position in shares of Viasat in the 2nd quarter worth approximately $30,000. 86.05% of the stock is owned by institutional investors.

Viasat Price Performance

Shares of VSAT stock opened at $61.47 on Friday. Viasat has a 12 month low of $29.13 and a 12 month high of $93.03. The stock has a 50-day moving average price of $70.53 and a 200 day moving average price of $70.56. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of -256.12 and a beta of 1.76.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.10 by $0.07. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the company posted $0.17 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts expect that Viasat will post -0.38 EPS for the current year.

Viasat Company Profile

Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company's offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.

Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.

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