Viasat (NASDAQ:VSAT) Price Target Cut to $16.00 by Analysts at Needham & Company LLC

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

Other research analysts have also recently issued research reports about the company. Morgan Stanley dropped their price target on Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. William Blair reaffirmed a "market perform" rating on shares of Viasat in a report on Tuesday, April 15th. Cantor Fitzgerald started coverage on Viasat in a report on Friday, January 24th. They issued a "neutral" rating and a $12.00 price target on the stock. Barclays upped their price target on Viasat from $9.00 to $10.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised Viasat from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a report on Monday, March 24th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $18.88.

Viasat Price Performance

VSAT traded up $0.39 during trading on Thursday, reaching $9.54. The stock had a trading volume of 1,566,369 shares, compared to its average volume of 2,793,697. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.84 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 1-year low of $6.69 and a 1-year high of $26.70. The stock has a 50 day moving average of $9.48 and a two-hundred day moving average of $9.28.

Institutional Trading of Viasat

Several large investors have recently added to or reduced their stakes in VSAT. Vanguard Group Inc. increased its stake in shares of Viasat by 6.3% in the first quarter. Vanguard Group Inc. now owns 14,646,644 shares of the communications equipment provider's stock worth $152,618,000 after acquiring an additional 872,784 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Viasat by 2.9% in the first quarter. Neuberger Berman Group LLC now owns 5,190,232 shares of the communications equipment provider's stock worth $53,913,000 after acquiring an additional 145,868 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Viasat by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider's stock worth $29,866,000 after acquiring an additional 1,128,338 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Viasat by 26.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,384,942 shares of the communications equipment provider's stock worth $24,851,000 after acquiring an additional 497,405 shares during the last quarter. Finally, Long Focus Capital Management LLC acquired a new position in shares of Viasat in the first quarter worth $24,695,000. 86.05% of the stock is owned by institutional investors and hedge funds.

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.