JPMorgan Chase & Co. Increases ViaSat (VSAT) Price Target to $75.00

ViaSat (NASDAQ:VSAT) had its target price upped by research analysts at JPMorgan Chase & Co. from $70.00 to $75.00 in a note issued to investors on Monday. The firm presently has a “neutral” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 12.36% from the company’s previous close.

A number of other research analysts have also commented on the stock. BidaskClub lowered shares of ViaSat from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Zacks Investment Research lowered shares of ViaSat from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Morgan Stanley initiated coverage on shares of ViaSat in a research report on Friday, December 15th. They issued an “equal weight” rating and a $78.00 price target for the company. Royal Bank of Canada reissued an “underperform” rating and issued a $46.00 price target (down previously from $48.00) on shares of ViaSat in a research report on Tuesday, November 21st. Finally, Needham & Company LLC raised shares of ViaSat from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $74.20.

ViaSat (VSAT) opened at $66.75 on Monday. The company has a market cap of $3,930.61, a PE ratio of -94.01 and a beta of 0.80. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.38. ViaSat has a 52-week low of $57.75 and a 52-week high of $80.26.

ViaSat (NASDAQ:VSAT) last announced its quarterly earnings data on Thursday, February 8th. The communications equipment provider reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $381.80 million during the quarter, compared to analyst estimates of $392.99 million. ViaSat had a negative net margin of 2.59% and a negative return on equity of 1.13%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. sell-side analysts forecast that ViaSat will post -0.98 EPS for the current fiscal year.

In other news, Director Jeffrey M. Nash sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $72.26, for a total transaction of $144,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Stenbit sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $74.86, for a total transaction of $59,888.00. Following the sale, the director now directly owns 10,400 shares of the company’s stock, valued at approximately $778,544. The disclosure for this sale can be found here. Insiders sold 18,500 shares of company stock valued at $1,357,897 in the last three months. Company insiders own 7.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VSAT. Fiduciary Management Inc. WI increased its holdings in shares of ViaSat by 78.2% during the third quarter. Fiduciary Management Inc. WI now owns 779,160 shares of the communications equipment provider’s stock worth $50,116,000 after buying an additional 341,875 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of ViaSat during the fourth quarter worth approximately $19,848,000. Hood River Capital Management LLC increased its holdings in shares of ViaSat by 82.6% during the fourth quarter. Hood River Capital Management LLC now owns 438,630 shares of the communications equipment provider’s stock worth $32,831,000 after buying an additional 198,354 shares in the last quarter. BlackRock Inc. increased its holdings in shares of ViaSat by 1.9% during the fourth quarter. BlackRock Inc. now owns 5,732,578 shares of the communications equipment provider’s stock worth $429,084,000 after buying an additional 107,174 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of ViaSat by 5.3% during the second quarter. State Street Corp now owns 1,762,352 shares of the communications equipment provider’s stock worth $116,669,000 after buying an additional 88,421 shares in the last quarter. 99.42% of the stock is owned by institutional investors.

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ViaSat Company Profile

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.

Analyst Recommendations for ViaSat (NASDAQ:VSAT)

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