Viasat (NASDAQ:VSAT) Trading 5.7% Higher - Here's Why

Key Points

• Viasat shares rose 5.7% in Friday trading, reaching an intraday high of $73.88 and last changing hands at $74.39.
• Analyst sentiment remains mixed but constructive: the stock carries a “Moderate Buy” consensus with an average price target of $84.11, though some firms like Weiss Ratings remain bearish.
• Viasat recently missed earnings and revenue estimates for the quarter, reporting EPS of -$0.02 versus expectations of $0.32, even as revenue rose 2.1% year over year to $1.17 billion.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) was up 5.7% during trading on Friday . The stock traded as high as $73.88 and last traded at $74.3930. 285,919 shares traded hands during trading, a decline of 86% from the average session volume of 2,106,548 shares. The stock had previously closed at $70.39.

Analyst Ratings Changes

Several brokerages have recently weighed in on VSAT. Weiss Ratings reissued a "sell (d-)" rating on shares of Viasat in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $97.00 price target on shares of Viasat in a research note on Monday, June 1st. Barclays set a $49.00 price objective on shares of Viasat in a research report on Friday, May 29th. Oppenheimer initiated coverage on Viasat in a research report on Monday, June 29th. They set an "outperform" rating and a $140.00 target price for the company. Finally, New Street Research assumed coverage on Viasat in a research note on Wednesday, May 13th. They set a "buy" rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $84.11.

Viasat Stock Up 6.8%

The business's fifty day moving average is $71.35 and its two-hundred day moving average is $55.48. The company has a market cap of $10.27 billion, a P/E ratio of -259.67 and a beta of 1.70. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.19 and a current ratio of 2.41.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.34). The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.Viasat's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Equities analysts predict that Viasat Inc. will post -0.39 EPS for the current year.

Insider Transactions at Viasat

In other Viasat news, CFO Garrett L. Chase sold 4,000 shares of Viasat stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $62.41, for a total transaction of $249,640.00. Following the completion of the sale, the chief financial officer directly owned 34,239 shares of the company's stock, valued at $2,136,855.99. The trade was a 10.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Theresa Wise sold 2,500 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $69.00, for a total value of $172,500.00. Following the completion of the sale, the director owned 11,000 shares of the company's stock, valued at $759,000. This represents a 18.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 438,803 shares of company stock valued at $28,655,600 in the last ninety days. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Viasat

Institutional investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new position in Viasat in the fourth quarter worth $830,000. Hudson Bay Capital Management LP purchased a new stake in shares of Viasat during the 3rd quarter valued at $7,325,000. SG Americas Securities LLC boosted its position in shares of Viasat by 797.5% in the 4th quarter. SG Americas Securities LLC now owns 117,019 shares of the communications equipment provider's stock worth $4,032,000 after purchasing an additional 103,981 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Viasat by 84.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 38,700 shares of the communications equipment provider's stock worth $1,334,000 after purchasing an additional 17,700 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Viasat by 58.4% during the 3rd quarter. Van ECK Associates Corp now owns 708,428 shares of the communications equipment provider's stock worth $20,757,000 after buying an additional 261,257 shares during the last quarter. Institutional investors 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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