Thu Sep 19 07:03:14 UTC 2024: ## Viasat Stock Downgraded by JPMorgan Chase, Analysts Remain Divided
**San Diego, CA – September 19, 2024** – Viasat Inc. (NASDAQ: VSAT) saw its stock rating downgraded from “overweight” to “neutral” by research analysts at JPMorgan Chase & Co. on Tuesday. This move comes with a revised price objective of $15.00, representing a potential upside of 19.43% from the current price.
The downgrade reflects a more cautious outlook on the communications equipment provider. While JPMorgan Chase & Co.’s price objective is higher than the current price, it is significantly lower than their previous target of $29.00.
However, other analysts hold varying opinions on Viasat’s future. Needham & Company LLC maintains a “buy” rating with a $28.00 price target, while Morgan Stanley lowered their target to $26.00 and assigned an “equal weight” rating. Deutsche Bank Aktiengesellschaft also lowered their target to $22.00 and issued a “hold” rating, while StockNews.com downgraded the stock from “hold” to “sell.”
Despite the mixed opinions, Bank of America remains bullish, raising their price target to $28.00 and maintaining a “buy” rating. Overall, data from MarketBeat.com shows an average “Hold” rating with an average target price of $23.83.
Viasat’s recent quarterly earnings report revealed a beat on earnings per share (EPS) but a slight miss on revenue. The company reported ($0.26) EPS, exceeding expectations by $0.16. Revenue reached $1.10 billion, slightly above the projected $1.07 billion.
In other news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock on August 12th for a total transaction of $55,947,695.80. Following the sale, the insider now owns 8,545,334 shares, valued at approximately $170,052,146.60.
Institutional investors continue to adjust their holdings in Viasat. Vanguard Group Inc. increased its position by 2.9% in the first quarter, while Disciplined Growth Investors Inc. MN raised its stake by 1.1% in the second quarter. Charles Schwab Investment Management Inc. also boosted its holdings by 14.8% in the fourth quarter. Other notable investors include Millennium Management LLC and Bank of New York Mellon Corp, who significantly increased their positions in the second quarter.
Viasat provides a range of broadband and communications products and services globally, serving consumers, businesses, and various industries. The company’s Satellite Services segment offers services like broadband internet access, in-flight entertainment, and mobile broadband, among others.
First Piper 