Brokerages Set Viasat Inc. (NASDAQ:VSAT) Price Target at $77.13

Shares of Viasat Inc. (NASDAQ:VSAT) have been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $77.1250.

VSAT has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Barclays set a $49.00 price objective on Viasat in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $97.00 price target on shares of Viasat in a research note on Monday, June 1st. Needham & Company LLC increased their price target on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Finally, Raymond James Financial set a $74.00 price objective on Viasat and gave the stock an “outperform” rating in a research note on Friday, April 24th.

Insider Transactions at Viasat

In other Viasat news, CFO Garrett L. Chase sold 4,000 shares of Viasat stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $62.41, for a total value of $249,640.00. Following the sale, the chief financial officer owned 34,239 shares of the company’s stock, valued at $2,136,855.99. This trade represents a 10.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Theresa Wise sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the completion of the transaction, the director owned 11,000 shares of the company’s stock, valued at $759,000. The trade was a 18.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 438,275 shares of company stock worth $28,608,719. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viasat

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Viasat by 2,821.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock worth $111,065,000 after purchasing an additional 3,112,670 shares during the period. Vanguard Group Inc. raised its position in shares of Viasat by 8.2% in the third quarter. Vanguard Group Inc. now owns 16,962,958 shares of the communications equipment provider’s stock valued at $497,015,000 after buying an additional 1,289,024 shares in the last quarter. Millennium Management LLC raised its position in shares of Viasat by 673.7% in the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after buying an additional 1,206,935 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Viasat by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock valued at $29,866,000 after purchasing an additional 1,128,338 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Viasat by 38.5% during the third quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock valued at $108,808,000 after purchasing an additional 1,033,194 shares in the last quarter. Institutional investors own 86.05% of the company’s stock.

Viasat Stock Up 3.3%

NASDAQ VSAT opened at $61.95 on Monday. The firm has a market cap of $8.46 billion, a PE ratio of -213.62 and a beta of 1.71. Viasat has a one year low of $14.00 and a one year high of $89.79. The stock’s 50 day simple moving average is $68.04 and its 200 day simple moving average is $52.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19.

Viasat (NASDAQ:VSAT) last released its quarterly 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 business had revenue of $1.17 billion for 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%.The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. As a group, sell-side analysts forecast that Viasat will post -0.39 earnings per share for the current fiscal year.

About Viasat

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.