Viasat (NASDAQ:VSAT) Stock Price Target Lowered at JPMorgan Chase & Co.

Viasat (NASDAQ:VSAT) had its price target reduced by analysts at JPMorgan Chase & Co. from $130.00 to $120.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the communications equipment provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 60.26% from the company’s previous close.

VSAT has been the subject of several other reports. Needham & Company LLC dropped their price objective on Viasat from $105.00 to $85.00 and set a “buy” rating for the company in a research note on Friday. Raymond James Financial reissued an “outperform” rating and set a $95.00 price objective on shares of Viasat in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a report on Thursday, October 15th. Morgan Stanley set a $95.00 target price on shares of Viasat in a research report on Monday, August 10th. Finally, Zacks Research upgraded shares of Viasat from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.56.

Viasat Price Performance

NASDAQ:VSAT traded up $10.93 during mid-day trading on Monday, hitting $74.88. The company’s stock had a trading volume of 2,635,243 shares, compared to its average volume of 2,105,301. Viasat has a fifty-two week low of $29.13 and a fifty-two week high of $93.03. The company has a current ratio of 1.65, a quick ratio of 1.49 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of -103.81 and a beta of 1.76. The stock has a fifty day moving average of $69.77 and a 200-day moving average of $64.26.

Viasat (NASDAQ:VSAT) last released its quarterly earnings data on Thursday, November 5th. The communications equipment provider reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.10. Viasat had a negative return on equity of 0.05% and a negative net margin of 2.07%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Viasat will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viasat news, SVP Benjamin Palmer sold 2,000 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $69.87, for a total transaction of $139,740.00. Following the transaction, the senior vice president owned 28,087 shares of the company’s stock, valued at approximately $1,962,438.69. This represents a 6.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Garrett L. Chase sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $74.90, for a total value of $299,600.00. Following the completion of the transaction, the chief financial officer owned 26,239 shares in the company, valued at approximately $1,965,301.10. This represents a 13.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,098 shares of company stock worth $3,593,911 in the last three months. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Viasat

Several large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Viasat in the 2nd quarter worth $1,863,374,000. Bank of America Corp DE bought a new stake in Viasat in the second quarter valued at about $127,283,000. Tema ETFs LLC increased its holdings in Viasat by 229,857.1% in the second quarter. Tema ETFs LLC now owns 965,820 shares of the communications equipment provider’s stock valued at $86,740,000 after purchasing an additional 965,400 shares during the last quarter. Tidal Investments LLC lifted its stake in Viasat by 8,261.7% in the second quarter. Tidal Investments LLC now owns 976,646 shares of the communications equipment provider’s stock valued at $87,713,000 after buying an additional 964,966 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Viasat in the second quarter valued at about $80,124,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

About Viasat

Viasat, Inc is a global communications company that designs, develops and operates satellite and wireless communications systems. Its services support consumers, businesses, governments and other organizations that need connectivity in areas where terrestrial networks may be limited.

The company provides satellite broadband for homes and businesses, in-flight connectivity for commercial and business aircraft, and communications services for maritime customers. Viasat also supplies secure communications, networking equipment and related services to government and defense customers.

Founded in 1986 and headquartered in Carlsbad, California, Viasat serves customers in the Americas and internationally.