Viasat (NASDAQ:VSAT) Coverage Initiated by Analysts at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald began coverage on shares of Viasat (NASDAQ:VSAT) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $12.00 price target on the communications equipment provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 3.81% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Viasat in a research note on Tuesday. Barclays cut their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Viasat presently has an average rating of “Hold” and an average price target of $17.43.

Viasat Trading Up 7.3 %

Shares of NASDAQ:VSAT opened at $11.56 on Friday. Viasat has a 12-month low of $6.69 and a 12-month high of $26.70. The company has a market cap of $1.48 billion, a PE ratio of -3.71 and a beta of 1.34. The stock has a 50 day moving average of $9.02 and a 200 day moving average of $12.39. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the company earned ($6.16) earnings per share. As a group, equities research analysts expect that Viasat will post -2.64 EPS for the current year.

Insider Activity at Viasat

In other Viasat news, EVP Mark J. Miller sold 3,564 shares of Viasat stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total value of $32,824.44. Following the completion of the transaction, the executive vice president now directly owns 350,351 shares of the company’s stock, valued at $3,226,732.71. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VSAT. National Bank of Canada FI bought a new stake in Viasat during the third quarter worth approximately $27,000. Point72 Hong Kong Ltd bought a new position in shares of Viasat during the 3rd quarter valued at approximately $28,000. KBC Group NV raised its holdings in Viasat by 63.7% during the 3rd quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 1,021 shares during the period. GAMMA Investing LLC lifted its position in Viasat by 176.3% in the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 1,772 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Viasat during the second quarter worth $61,000. Institutional investors own 86.05% of the company’s stock.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.