Needham & Company LLC Forecasts Strong Price Appreciation for Gilat Satellite Networks (NASDAQ:GILT) Stock

Gilat Satellite Networks (NASDAQ:GILT) had its price objective boosted by investment analysts at Needham & Company LLC from $11.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 35.94% from the company’s current price.

A number of other analysts have also weighed in on the company. Wall Street Zen lowered Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Zacks Research downgraded Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gilat Satellite Networks in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

Gilat Satellite Networks Trading Down 3.8%

GILT opened at $11.77 on Thursday. Gilat Satellite Networks has a 52 week low of $4.86 and a 52 week high of $15.24. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $12.93 and a 200-day simple moving average of $9.29. The firm has a market cap of $673.39 million, a P/E ratio of 30.18 and a beta of 0.62.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The firm had revenue of $117.69 million for the quarter, compared to the consensus estimate of $112.19 million. Gilat Satellite Networks has set its FY 2025 guidance at EPS. On average, equities analysts expect that Gilat Satellite Networks will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Gilat Satellite Networks in the third quarter valued at about $26,000. USA Financial Formulas purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $39,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Gilat Satellite Networks in the third quarter valued at about $64,000. Blue Bell Private Wealth Management LLC purchased a new stake in Gilat Satellite Networks during the first quarter worth about $67,000. Finally, McIlrath & Eck LLC boosted its holdings in Gilat Satellite Networks by 383.1% during the third quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 4,586 shares in the last quarter. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.