ViaSat, Inc. (NASDAQ:VSAT) Receives $96.99 Average Target Price from Analysts

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Shares of ViaSat, Inc. (NASDAQ:VSAT) have been assigned a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $96.99.

VSAT has been the topic of several analyst reports. ValuEngine raised shares of ViaSat from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 10th. Needham & Company LLC boosted their price objective on shares of ViaSat from $78.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. BidaskClub cut shares of ViaSat from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Bank of America reissued a “buy” rating and issued a $105.00 price objective (up previously from $74.00) on shares of ViaSat in a research note on Monday, June 3rd. Finally, Zacks Investment Research raised shares of ViaSat from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Monday, May 13th.

In other ViaSat news, insider Bruce Leroy Dirks sold 16,500 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $91.87, for a total transaction of $1,515,855.00. Following the sale, the insider now owns 34,522 shares of the company’s stock, valued at $3,171,536.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director B Allen Lay sold 1,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $78.04, for a total transaction of $78,040.00. The disclosure for this sale can be found here. Insiders have sold 470,903 shares of company stock worth $41,735,777 in the last ninety days. Insiders own 8.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of VSAT. JPMorgan Chase & Co. boosted its position in ViaSat by 26.0% during the third quarter. JPMorgan Chase & Co. now owns 43,679 shares of the communications equipment provider’s stock valued at $2,793,000 after acquiring an additional 9,018 shares during the last quarter. Comerica Bank raised its holdings in shares of ViaSat by 2.1% during the fourth quarter. Comerica Bank now owns 36,273 shares of the communications equipment provider’s stock valued at $2,231,000 after purchasing an additional 740 shares during the period. Nissay Asset Management Corp Japan ADV acquired a new position in shares of ViaSat during the fourth quarter valued at about $512,000. LPL Financial LLC raised its holdings in shares of ViaSat by 23.5% during the fourth quarter. LPL Financial LLC now owns 7,010 shares of the communications equipment provider’s stock valued at $413,000 after purchasing an additional 1,334 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of ViaSat by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,612,721 shares of the communications equipment provider’s stock valued at $389,817,000 after purchasing an additional 211,159 shares during the period. 96.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ VSAT traded down $0.75 during midday trading on Friday, reaching $81.12. 10,596 shares of the company were exchanged, compared to its average volume of 588,380. The company’s 50-day moving average price is $89.10. The stock has a market capitalization of $5.02 billion, a PE ratio of -71.58 and a beta of 0.98. ViaSat has a one year low of $55.93 and a one year high of $97.31. The company has a current ratio of 1.83, a quick ratio of 1.34 and a debt-to-equity ratio of 0.73.

ViaSat (NASDAQ:VSAT) last posted its earnings results on Thursday, May 23rd. The communications equipment provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.29. ViaSat had a negative net margin of 3.27% and a negative return on equity of 3.47%. The firm had revenue of $557.20 million for the quarter, compared to analysts’ expectations of $538.73 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. Analysts forecast that ViaSat will post -0.1 EPS for the current fiscal year.

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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.

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Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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