Wells Fargo & Co Analysts Give ViaSat, Inc. (VSAT) a $96.00 Price Target
ViaSat, Inc. (NASDAQ:VSAT) received a $96.00 price objective from analysts at Wells Fargo & Co in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Wells Fargo & Co’s target price would suggest a potential upside of 43.52% from the company’s previous close.
A number of other research firms also recently commented on VSAT. B. Riley reaffirmed a “buy” rating and issued a $89.00 price objective on shares of ViaSat in a report on Thursday, February 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of ViaSat in a report on Thursday, February 16th. Barclays PLC began coverage on shares of ViaSat in a report on Tuesday, February 21st. They issued an “equal weight” rating and a $75.00 price objective for the company. Zacks Investment Research raised shares of ViaSat from a “sell” rating to a “hold” rating in a report on Tuesday, February 14th. Finally, Royal Bank of Canada began coverage on shares of ViaSat in a report on Wednesday, January 25th. They issued an “underperform” rating and a $42.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $76.20.
Shares of ViaSat (NASDAQ:VSAT) traded up 1.73% during mid-day trading on Wednesday, hitting $66.89. 492,154 shares of the stock traded hands. The stock has a 50-day moving average of $64.05 and a 200 day moving average of $66.80. The stock has a market cap of $3.85 billion, a PE ratio of 158.88 and a beta of 0.67. ViaSat has a one year low of $61.85 and a one year high of $82.19.
ViaSat (NASDAQ:VSAT) last released its quarterly earnings data on Tuesday, May 23rd. The communications equipment provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $416.40 million during the quarter, compared to the consensus estimate of $400.90 million. ViaSat had a net margin of 1.42% and a return on equity of 2.12%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 earnings per share. Equities analysts predict that ViaSat will post $1.13 EPS for the current fiscal year.
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In related news, VP Toro Melinda Michele Del sold 2,938 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $65.11, for a total value of $191,293.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Neuburgh Advisers LLC raised its position in shares of ViaSat by 20.5% in the first quarter. Neuburgh Advisers LLC now owns 1,600 shares of the communications equipment provider’s stock worth $102,000 after buying an additional 272 shares during the period. Quantbot Technologies LP acquired a new position in shares of ViaSat during the first quarter worth approximately $105,000. Glen Harbor Capital Management LLC raised its position in shares of ViaSat by 20.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,200 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 374 shares during the period. Elkfork Partners LLC acquired a new position in shares of ViaSat during the fourth quarter worth approximately $154,000. Finally, Independent Portfolio Consultants Inc. acquired a new position in shares of ViaSat during the first quarter worth approximately $163,000. Institutional investors own 82.39% of the company’s stock.
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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