Equities research analysts at Cantor Fitzgerald assumed coverage on shares of Viasat (NASDAQ:VSAT – Get Free Report) in a report released on Friday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $12.00 price target on the communications equipment provider’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 4.35% from the company’s previous close.
A number of other equities research analysts have also issued reports on VSAT. Barclays reduced their price target on Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Viasat in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.43.
Check Out Our Latest Report on Viasat
Viasat Stock Down 0.5 %
Viasat (NASDAQ:VSAT – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business posted ($6.16) earnings per share. On average, research analysts expect that Viasat will post -2.64 earnings per share for the current year.
Insider Activity at Viasat
In other Viasat news, EVP Mark J. Miller sold 3,564 shares of Viasat stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following the sale, the executive vice president now owns 350,351 shares in the company, valued at $3,226,732.71. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the company. Everett Harris & Co. CA bought a new position in Viasat in the 4th quarter worth approximately $1,111,000. KBC Group NV grew its holdings in shares of Viasat by 107.9% during the fourth quarter. KBC Group NV now owns 5,453 shares of the communications equipment provider’s stock worth $46,000 after buying an additional 2,830 shares in the last quarter. Inspire Investing LLC increased its position in shares of Viasat by 38.9% in the fourth quarter. Inspire Investing LLC now owns 47,484 shares of the communications equipment provider’s stock valued at $404,000 after acquiring an additional 13,302 shares during the last quarter. M.E. Allison & CO. Inc. acquired a new position in Viasat during the fourth quarter valued at approximately $105,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Viasat by 23.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 26,324 shares of the communications equipment provider’s stock valued at $224,000 after buying an additional 4,922 shares during the last quarter. Institutional investors own 86.05% of the company’s stock.
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.
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