Viasat (NASDAQ:VSAT) Given New $16.00 Price Target at Needham & Company LLC

Viasat (NASDAQ:VSAT - Free Report) had its target price lowered by Needham & Company LLC from $19.00 to $16.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the communications equipment provider's stock.

A number of other equities analysts also recently commented on VSAT. Morgan Stanley cut their target price on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Cantor Fitzgerald started coverage on shares of Viasat in a research note on Friday, January 24th. They issued a "neutral" rating and a $12.00 price target for the company. 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 note on Monday, March 24th. Barclays boosted their price target on shares of Viasat from $9.00 to $10.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Finally, Wall Street Zen upgraded shares of Viasat from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.14.

Viasat Price Performance

Shares of VSAT traded down $0.93 during mid-day trading on Thursday, reaching $9.15. 4,066,576 shares of the company's stock were exchanged, compared to its average volume of 2,797,933. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -2.72 and a beta of 1.01. The company has a quick ratio of 1.60, a current ratio of 1.80 and a debt-to-equity ratio of 1.35. Viasat has a 52-week low of $6.69 and a 52-week high of $26.70. The company has a 50-day simple moving average of $9.49 and a two-hundred day simple moving average of $9.29.

Institutional Investors Weigh In On Viasat

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