Viasat Inc. (NASDAQ:VSAT) Stock Has Consensus Target Price of $90.67 According to Analysts

Viasat Inc. (NASDAQ:VSAT) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $90.67.

Several research firms recently issued reports on VSAT. Weiss Ratings restated a “sell (d-)” rating on shares of Viasat in a research report on Friday, July 17th. Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 29th. Morgan Stanley set a $95.00 price objective on Viasat in a report on Monday, August 10th. Wall Street Zen lowered Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC raised their target price on Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th.

Viasat Stock Up 6.6%

Shares of VSAT opened at $74.38 on Wednesday. Viasat has a 52-week low of $29.13 and a 52-week high of $93.03. The company has a quick ratio of 1.52, a current ratio of 1.68 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $75.08 and a two-hundred day simple moving average of $69.31. The company has a market capitalization of $10.25 billion, a PE ratio of -309.92 and a beta of 1.76.

Insiders Place Their Bets

In other Viasat news, SVP Benjamin Palmer sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $69.87, for a total value of $139,740.00. Following the sale, the senior vice president owned 28,087 shares of the company’s stock, valued at $1,962,438.69. The trade was a 6.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Stenbit sold 705 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $66.75, for a total value of $47,058.75. Following the transaction, the director owned 545 shares in the company, valued at $36,378.75. This trade represents a 56.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 245,763 shares of company stock worth $19,677,727. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Viasat

Several institutional investors and hedge funds have recently modified their holdings of VSAT. BlackRock Inc. purchased a new position in Viasat in the second quarter worth approximately $1,863,374,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Viasat in the 2nd quarter valued at approximately $11,902,000. South Dakota Investment Council increased its position in shares of Viasat by 92.6% in the 1st quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock valued at $15,391,000 after purchasing an additional 161,552 shares during the last quarter. Everett Harris & Co. CA acquired a new stake in shares of Viasat in the 2nd quarter valued at $5,423,000. Finally, Bank of America Corp DE acquired a new stake in shares of Viasat in the 2nd quarter valued at $127,283,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc is a communications company that provides satellite connectivity and related services to commercial, government and consumer customers. Its offerings include broadband internet, in-flight connectivity, maritime communications, enterprise networking and secure communications for government and defense applications.

The company operates a fleet of communications satellites and develops supporting ground infrastructure, network services and connectivity equipment. Viasat serves customers across North America, Europe, the Middle East, Africa, Asia-Pacific and other international markets, including airlines, shipping companies, businesses, government agencies and households in areas where terrestrial broadband is limited.

Viasat was founded in 1986 and is headquartered in Carlsbad, California.