Viasat (NASDAQ:VSAT) Price Target Cut to $19.00 by Analysts at Needham & Company LLC

by · The Markets Daily

Viasat (NASDAQ:VSAT – Free Report) had its target price cut by Needham & Company LLC from $28.00 to $19.00 in a research note released on Tuesday, MarketBeat.com reports. They currently have a buy rating on the communications equipment provider’s stock.

A number of other brokerages also recently issued reports on VSAT. Morgan Stanley cut their target price on Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. JPMorgan Chase & Co. downgraded shares of Viasat from an “overweight” rating to a “neutral” rating and cut their price target for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. Finally, Bank of America lowered their target price on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.83.

Check Out Our Latest Stock Analysis on Viasat

Viasat Trading Down 3.8 %

Shares of VSAT stock opened at $11.12 on Tuesday. Viasat has a twelve month low of $10.40 and a twelve month high of $29.11. The company has a current ratio of 3.08, a quick ratio of 2.78 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $14.14 and its two-hundred day moving average is $15.52. The company has a market capitalization of $1.40 billion, a P/E ratio of -1.27 and a beta of 1.34.

Viasat (NASDAQ:VSAT – Get Free Report) last released its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.16. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business earned ($0.83) EPS. The business’s revenue was up 41.1% on a year-over-year basis. Equities analysts forecast that Viasat will post -1.43 EPS for the current year.

Insiders Place Their Bets

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the completion of the transaction, the insider now directly owns 8,545,334 shares in the company, valued at $170,052,146.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of Viasat

A number of large investors have recently made changes to their positions in VSAT. Millennium Management LLC lifted its holdings in Viasat by 1,145.1% in the 2nd quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock valued at $10,369,000 after purchasing an additional 750,904 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Viasat by 2.9% during the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock valued at $226,711,000 after buying an additional 348,166 shares during the period. SageView Advisory Group LLC purchased a new stake in Viasat in the 1st quarter worth approximately $5,936,000. Lee Danner & Bass Inc. acquired a new position in Viasat in the 2nd quarter valued at $3,531,000. Finally, Point72 Asset Management L.P. lifted its stake in shares of Viasat by 63.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock worth $8,181,000 after purchasing an additional 250,389 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Company Profile

(Get Free Report)

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.

Featured Articles