Viasat Inc. (NASDAQ:VSAT) Stock Has Average Price Target of $90.67

by · The Markets Daily

Viasat Inc. (NASDAQ:VSAT – Get Free Report) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $90.67.

Several brokerages have issued reports on VSAT. Morgan Stanley set a $95.00 target price on Viasat in a research note on Monday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a report on Friday, July 17th. Wall Street Zen lowered shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Needham & Company LLC lifted their price target on Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Oppenheimer began coverage on Viasat in a research note on Monday, June 29th. They issued an “outperform” rating and a $140.00 target price on the stock.

View Our Latest Analysis on VSAT

Viasat Price Performance

VSAT stock opened at $72.00 on Wednesday. The company’s 50 day moving average is $75.17 and its 200 day moving average is $68.99. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of -300.00 and a beta of 1.76. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23. Viasat has a 1-year low of $29.13 and a 1-year high of $93.03.

Insider Activity at Viasat

In related news, SVP Benjamin Palmer sold 2,400 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $75.46, for a total value of $181,104.00. Following the completion of the sale, the senior vice president owned 21,159 shares of the company’s stock, valued at $1,596,658.14. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Stenbit sold 705 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total transaction of $47,058.75. Following the completion of the sale, the director directly owned 545 shares of the company’s stock, valued at approximately $36,378.75. This represents a 56.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 243,763 shares of company stock valued at $19,537,987 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Viasat during the second quarter valued at approximately $1,863,374,000. Bank of America Corp DE bought a new position in Viasat in the second quarter worth $127,283,000. Tema ETFs LLC raised its holdings in Viasat by 229,857.1% in the second quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider’s stock worth $86,740,000 after purchasing an additional 965,400 shares in the last quarter. Tidal Investments LLC lifted its position in Viasat by 8,261.7% during the second quarter. Tidal Investments LLC now owns 976,646 shares of the communications equipment provider’s stock valued at $87,713,000 after buying an additional 964,966 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Viasat during the 2nd quarter valued at $80,124,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

(Get Free Report)

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.

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