Viasat (NASDAQ:VSAT) Trading 9.3% Higher – What’s Next?

by · The Markets Daily

Viasat Inc. (NASDAQ:VSATGet Free Report) shot up 9.3% during trading on Monday . The stock traded as high as $45.11 and last traded at $45.5670. 385,128 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 1,898,355 shares. The stock had previously closed at $41.70.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VSAT shares. Raymond James Financial upgraded Viasat from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a report on Monday, November 10th. William Blair reaffirmed an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research report on Wednesday, January 21st. Morgan Stanley set a $51.00 price target on Viasat in a research report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and upped their price objective for the company from $36.00 to $48.00 in a report on Friday. Six analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.86.

Read Our Latest Analysis on Viasat

Viasat Trading Up 11.0%

The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $6.26 billion, a P/E ratio of -17.87 and a beta of 1.47. The business has a 50 day moving average of $38.86 and a 200-day moving average of $33.69.

Viasat (NASDAQ:VSATGet Free Report) last released its quarterly earnings results on Saturday, November 8th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.20. Viasat had a negative net margin of 7.34% and a positive return on equity of 1.73%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned ($0.23) earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Viasat Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In related news, CAO Shawn Lynn Duffy sold 51,480 shares of Viasat stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $36.38, for a total value of $1,872,842.40. Following the sale, the chief accounting officer owned 6,021 shares of the company’s stock, valued at approximately $219,043.98. This trade represents a 89.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Camellia E. Fitzgerald sold 2,810 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $48.00, for a total value of $134,880.00. Following the completion of the sale, the chief accounting officer owned 9,946 shares in the company, valued at $477,408. The trade was a 22.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 359,339 shares of company stock worth $13,240,768. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Viasat

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC bought a new position in Viasat in the third quarter valued at $25,000. Hantz Financial Services Inc. boosted its stake in shares of Viasat by 6,815.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 886 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Viasat during the 3rd quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Viasat in the 4th quarter valued at about $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Viasat in the second quarter valued at about $43,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Viasat Company Profile

(Get Free Report)

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.

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