Viasat (NASDAQ:VSAT) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Viasat to “sell” from “hold,” contrasting with a MarketBeat consensus “moderate buy” rating and an average price target of $85.78.
• Viasat shares opened at $80.38, with a market capitalization of $11.07 billion and a one-year trading range of $24.95 to $93.03.
• The company missed its latest quarterly earnings and revenue estimates, reporting a $0.02 loss per share on $1.17 billion in revenue; insiders have sold $29.4 million of stock over the past three months.

Viasat (NASDAQ:VSAT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC upped their target price on shares of Viasat from $90.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday. Oppenheimer assumed coverage on Viasat in a research report on Monday, June 29th. They issued an "outperform" rating and a $140.00 price target on the stock. Raymond James Financial set a $74.00 price objective on Viasat and gave the company an "outperform" rating in a research note on Friday, April 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Viasat in a research note on Friday, July 17th. Finally, Zacks Research raised Viasat from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.78.

Viasat Stock Performance

Shares of VSAT stock opened at $80.38 on Friday. The stock's 50-day moving average is $72.29 and its two-hundred day moving average is $60.71. The firm has a market cap of $11.07 billion, a price-to-earnings ratio of -334.92 and a beta of 1.72. Viasat has a 1 year low of $24.95 and a 1 year high of $93.03. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.19 and a current ratio of 1.68.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the firm posted ($0.02) earnings per share. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Viasat will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Benjamin Edward Palmer sold 2,400 shares of the firm'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 value of $181,104.00. Following the completion of the sale, the senior vice president directly owned 21,159 shares of the company's stock, valued at $1,596,658.14. This trade represents a 10.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theresa Wise sold 2,500 shares of Viasat stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $84.69, for a total value of $211,725.00. Following the completion of the sale, the director owned 11,000 shares in the company, valued at approximately $931,590. This trade represents a 18.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 448,319 shares of company stock worth $29,383,832 in the last three months. Company insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Viasat

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in Viasat by 4.4% in the second quarter. Versant Capital Management Inc now owns 4,940 shares of the communications equipment provider's stock worth $444,000 after acquiring an additional 207 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Viasat by 2.6% during the first quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider's stock valued at $394,000 after purchasing an additional 217 shares during the last quarter. Elevation Wealth Partners LLC raised its position in shares of Viasat by 935.3% during the 2nd 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 during the period. Vise Technologies Inc. raised its position in shares of Viasat by 4.8% during the 4th quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider's stock worth $257,000 after purchasing an additional 342 shares during the period. Finally, CWM LLC lifted its holdings in shares of Viasat by 1.8% in the 4th quarter. CWM LLC now owns 19,360 shares of the communications equipment provider's stock worth $667,000 after purchasing an additional 349 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company's stock.

Viasat Company Profile

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.

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