Needham & Company LLC Issues Positive Forecast for Viasat (NASDAQ:VSAT) Stock Price

Viasat (NASDAQ:VSAT) had its target price hoisted by Needham & Company LLC from $16.00 to $25.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the communications equipment provider’s stock.

VSAT has been the topic of several other research reports. B. Riley reduced their price target on shares of Viasat from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, May 27th. William Blair upgraded shares of Viasat from a “market perform” rating to an “outperform” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Viasat from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.13.

Viasat Price Performance

NASDAQ:VSAT opened at $27.82 on Wednesday. The stock has a market cap of $3.73 billion, a P/E ratio of -6.02 and a beta of 1.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.72 and a quick ratio of 1.55. The company has a fifty day moving average price of $14.15 and a 200 day moving average price of $11.12. Viasat has a one year low of $6.69 and a one year high of $28.59.

Viasat (NASDAQ:VSAT) last posted its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.32. Viasat had a negative net margin of 13.11% and a negative return on equity of 6.29%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts anticipate that Viasat will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Viasat in the 2nd quarter valued at approximately $43,000. PNC Financial Services Group Inc. raised its position in shares of Viasat by 233.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider’s stock valued at $33,000 after acquiring an additional 2,224 shares during the period. MAI Capital Management raised its position in shares of Viasat by 74.7% in the 1st quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 1,640 shares during the period. Sterling Capital Management LLC raised its position in shares of Viasat by 850.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 3,546 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Viasat by 331.3% in the 2nd quarter. Bessemer Group Inc. now owns 4,779 shares of the communications equipment provider’s stock valued at $70,000 after acquiring an additional 3,671 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

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 entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.