Viasat Inc. (NASDAQ:VSAT – Get Free Report) was up 8.9% on Tuesday . The company traded as high as $81.41 and last traded at $83.5190. 384,182 shares were traded during trading, a decline of 81% from the average daily volume of 2,019,108 shares. The stock had previously closed at $76.69.
Wall Street Analysts Forecast Growth
VSAT has been the subject of a number of recent analyst reports. B. Riley Financial raised their price objective on Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Raymond James Financial set a $74.00 target price on Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. New Street Research began coverage on Viasat in a research note on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target on the stock. Needham & Company LLC raised their price target on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a report on Monday, June 1st. Finally, Zacks Research cut shares of Viasat from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Viasat presently has an average rating of “Moderate Buy” and an average target price of $84.11.
View Our Latest Stock Analysis on Viasat
Viasat Price Performance
Viasat (NASDAQ:VSAT – Get Free Report) last posted its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.20 billion. Viasat had a negative net margin of 0.73% and a positive return on equity of 1.58%. Viasat’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. Research analysts forecast that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.
Insider Transactions at Viasat
In other Viasat news, Director John P. Stenbit sold 653 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $71.74, for a total value of $46,846.22. Following the transaction, the director directly owned 29,597 shares of the company’s stock, valued at $2,123,288.78. This represents a 2.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Theresa Wise sold 2,500 shares of the 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 transaction, the director owned 11,000 shares in the company, 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 quarter, insiders 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 bought and sold shares of the business. Cetera Investment Advisers grew its position in shares of Viasat by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the communications equipment provider’s stock worth $394,000 after purchasing an additional 217 shares in the last quarter. Vise Technologies Inc. raised its position in shares of Viasat by 4.8% in the fourth quarter. Vise Technologies Inc. now owns 7,446 shares of the communications equipment provider’s stock valued at $257,000 after buying an additional 342 shares in the last quarter. CWM LLC raised its position in shares of Viasat by 1.8% in the fourth quarter. CWM LLC now owns 19,360 shares of the communications equipment provider’s stock valued at $667,000 after buying an additional 349 shares in the last quarter. State of Tennessee Department of Treasury boosted its stake in shares of Viasat by 0.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 46,952 shares of the communications equipment provider’s stock valued at $1,618,000 after buying an additional 350 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Viasat by 1.9% in the third quarter. Victory Capital Management Inc. now owns 19,145 shares of the communications equipment provider’s stock valued at $561,000 after buying an additional 361 shares during the period. 86.05% of the stock is owned by institutional investors.
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.
Read More
- Five stocks we like better than Viasat
- Is the Memory Rally Still Alive After the Semiconductor Sell-Off?
- AirJoule Unveils Prime System, Clearing Path to Commercialization
- Copper Stocks Are Getting a Bigger Spotlight as Gold’s Rally Cracks
- Nike Q4 Beat Masks Core Weakness as Analysts Cut Price Targets
Receive News & Ratings for Viasat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viasat and related companies with MarketBeat.com's FREE daily email newsletter.
