Viasat (NASDAQ:VSAT) Stock Price Up 9.8% - Time to Buy?

Key Points

• Viasat Inc. shares surged 9.8% to $31.98, significantly above its previous close of $29.14.
• Recent research reports showed mixed ratings, with four analysts giving it a Buy rating and five a Hold rating, leading to an average target price of $21.13.
• The company posted a quarterly earnings per share of $0.17, surpassing estimates, with a revenue of $1.17 billion, a 4% increase from the previous year.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) shares rose 9.8% during mid-day trading on Thursday . The stock traded as high as $31.84 and last traded at $31.98. Approximately 1,591,139 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 3,657,479 shares. The stock had previously closed at $29.14.

Wall Street Analyst Weigh In

VSAT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Viasat in a research note on Thursday, August 7th. William Blair reiterated an "outperform" rating on shares of Viasat in a research note on Wednesday, August 27th. Needham & Company LLC boosted their price objective on Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. B. Riley decreased their price objective on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Viasat has an average rating of "Hold" and an average target price of $21.13.

Viasat Stock Performance

The company has a 50-day moving average of $22.53 and a 200 day moving average of $14.38. The company has a quick ratio of 1.87, a current ratio of 2.11 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $4.29 billion, a PE ratio of -6.91 and a beta of 1.27.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.32. Viasat had a negative return on equity of 6.37% and a negative net margin of 13.11%.The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the business earned $0.30 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts predict that Viasat Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Viasat

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in Viasat by 15.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,753 shares of the communications equipment provider's stock valued at $99,000 after acquiring an additional 888 shares during the period. Cambiar Investors LLC boosted its holdings in Viasat by 8.5% during the 2nd quarter. Cambiar Investors LLC now owns 12,115 shares of the communications equipment provider's stock valued at $177,000 after acquiring an additional 944 shares during the period. Legal & General Group Plc boosted its holdings in Viasat by 0.3% during the 2nd quarter. Legal & General Group Plc now owns 431,088 shares of the communications equipment provider's stock valued at $6,294,000 after acquiring an additional 1,202 shares during the period. AE Wealth Management LLC boosted its holdings in Viasat by 9.4% during the 2nd quarter. AE Wealth Management LLC now owns 14,041 shares of the communications equipment provider's stock valued at $205,000 after acquiring an additional 1,206 shares during the period. Finally, Tidal Investments LLC raised its position in Viasat by 10.3% during the 2nd quarter. Tidal Investments LLC now owns 13,758 shares of the communications equipment provider's stock valued at $201,000 after purchasing an additional 1,280 shares during the last quarter. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

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