Gilat Satellite Networks’ (GILT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $16.00 target price on the communications equipment provider’s stock.

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

Gilat Satellite Networks Price Performance

NASDAQ GILT opened at $11.52 on Tuesday. Gilat Satellite Networks has a one year low of $5.30 and a one year high of $15.24. The stock has a 50-day moving average of $12.98 and a 200 day moving average of $9.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.50. The company has a market capitalization of $659.08 million, a price-to-earnings ratio of 29.54 and a beta of 0.62.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results 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 net margin of 6.41% and a return on equity of 10.05%. The business had revenue of $117.69 million for the quarter, compared to analysts’ expectations of $112.19 million. Gilat Satellite Networks has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Gilat Satellite Networks

Hedge funds have recently modified their holdings of the business. CSM Advisors LLC bought a new position in Gilat Satellite Networks in the 2nd quarter worth $6,214,000. Penserra Capital Management LLC purchased a new stake in Gilat Satellite Networks in the second quarter worth about $908,000. Inspire Advisors LLC bought a new position in shares of Gilat Satellite Networks in the first quarter worth about $308,000. Acadian Asset Management LLC lifted its position in shares of Gilat Satellite Networks by 24.3% during the 1st quarter. Acadian Asset Management LLC now owns 638,854 shares of the communications equipment provider’s stock valued at $4,044,000 after buying an additional 124,794 shares in the last quarter. Finally, LBP AM SA grew its stake in shares of Gilat Satellite Networks by 33.3% during the 2nd quarter. LBP AM SA now owns 566,075 shares of the communications equipment provider’s stock valued at $4,013,000 after acquiring an additional 141,378 shares during the period. Institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.