ViaSat Receives a Buy from B.Riley FBR

B.Riley FBR analyst Mike Crawford assigned a Buy rating to ViaSat (NASDAQ: VSAT) today and set a price target of $89. The company’s shares closed on Friday at $62.11.

Crawford wrote:

“Buy-rated Alpha Generator pick Viasat (VSAT, $89 PT) reports 4Q18 (Mar) results after 5/24 close, and holds its call at 5:00 pm ET; dial in We model an above-street $428M revenue and $65M EBITDA (reduced from $70M), compared with $424M/$60M consensus. Similarly, our $1,941M revenue estimate for FY19 (Mar) is above a raised $1,882M consensus, though we trim our FY19 EBITDA estimate from $380M to $346M (near $337M consensus) to better account for service ramp as Viasat lights up VS-2, despite impairment, still the single-most capable satellite in Earth orbit, in our opinion. We also shift FY20e (Mar) from $2,201M revenue and $488M EBITDA to $2,217M/$477M, respectively.”

According to TipRanks.com, Crawford is a 4-star analyst with an average return of 7.5% and a 57.7% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as CPI Aerostructures, Finjan Holdings, and Kratos Defense.

ViaSat has an analyst consensus of Hold, with a price target consensus of $68.75.

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Based on ViaSat’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $24.63 million. In comparison, last year the company had a net profit of $6.65 million.

Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VSAT in relation to earlier this year.

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ViaSat, Inc. engages in the provision of fixed and mobile broadband services, advanced satellite and wireless networks and secure networking systems products and services. It operates through the following segments: Satellite Services, Commercial Networks, and Government Systems.