ViaSat Price Target Cut to $62.00 (VSAT)
Needham & Company reduced their price target on shares of ViaSat (NASDAQ:VSAT) from $75.00 to $62.00 in a research note issued on Thursday, Stock Ratings Network reports. Needham & Company’s price objective points to a potential upside of 9.89% from the company’s current price.
Separately, analysts at Thomson Reuters/Verus downgraded shares of ViaSat from a “buy” rating to a “hold” rating in a research note on Monday, December 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. ViaSat currently has a consensus rating of “Hold” and a consensus price target of $69.80.
In other ViaSat news, Director John Stenbit sold 2,950 shares of ViaSat stock on the open market in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $59.33, for a total transaction of $175,023.50. Following the completion of the sale, the director now directly owns 3,200 shares in the company, valued at approximately $189,856. The sale was disclosed in a document filed with the SEC, which is available at this link.
ViaSat (NASDAQ:VSAT) opened at 56.04 on Thursday. ViaSat has a 52 week low of $45.18 and a 52 week high of $73.43. The stock has a 50-day moving average of $61.21 and a 200-day moving average of $63.55. The company’s market cap is $2.555 billion.
ViaSat (NASDAQ:VSAT) last announced its earnings results on Tuesday, February 11th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.09 by $0.06. The company had revenue of $332.60 million for the quarter, compared to the consensus estimate of $348.89 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts predict that ViaSat will post $0.60 earnings per share for the current fiscal year.
ViaSat, Inc, is a provider of high-speed fixed and mobile broadband services, advanced satellite and wireless networks and secure networking systems, products and services.
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