Gilat Satellite Networks (NASDAQ:GILT) Given New $16.00 Price Target at Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT) had its target price raised by research analysts at Needham & Company LLC from $11.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 25.93% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Wednesday, October 8th. Zacks Research downgraded Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Wall Street Zen cut shares of 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.00.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT traded down $0.68 during trading hours on Thursday, reaching $12.71. 371,925 shares of the stock traded hands, compared to its average volume of 585,203. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. Gilat Satellite Networks has a 52-week low of $4.86 and a 52-week high of $15.24. The company has a market capitalization of $726.88 million, a P/E ratio of 32.51 and a beta of 0.62. The company’s 50-day simple moving average is $12.85 and its two-hundred day simple moving average is $9.23.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $117.69 million during the quarter, compared to analyst estimates of $112.19 million. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. Gilat Satellite Networks has set its FY 2025 guidance at EPS. Equities research analysts forecast that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC purchased a new position in shares of Gilat Satellite Networks in the first quarter worth $67,000. Royce & Associates LP bought a new position in shares of Gilat Satellite Networks during the 1st quarter valued at about $4,434,000. Inspire Advisors LLC purchased a new position in shares of Gilat Satellite Networks during the first quarter valued at about $308,000. National Bank of Canada FI grew its position in shares of Gilat Satellite Networks by 100.0% during the first quarter. National Bank of Canada FI now owns 50,000 shares of the communications equipment provider’s stock valued at $316,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Gilat Satellite Networks in the first quarter worth about $558,000. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Company Profile

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.