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ViaSat (VSAT) Surges 11.3%: Is This an Indication of Further Gains?
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ViaSat (VSAT - Free Report) shares soared 11.3% in the last trading session to close at $78.26. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.8% gain over the past four weeks.
The uptrend was largely due to its collaboration with Terrestar Solutions and Space42, which strengthens its position in the rapidly expanding direct-to-device and mobile satellite services markets. The proposed integration of Terrestar’s CaStar constellation with the Equatys platform, co-founded by Viasat and Space42, is expected to enhance global connectivity, improve spectrum and infrastructure utilization and reduce capital and operating costs through shared resources.
The collaboration should also accelerate the adoption of standards-based satellite connectivity while enabling Viasat to expand its ecosystem of regional and national operators. These developments bode well for the company’s long-term growth prospects by creating opportunities to capture rising demand for next-generation satellite communication services.
This provider of satellite and wireless networking technology is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $1.2 billion, up 5.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ViaSat, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VSAT going forward to see if this recent jump can turn into more strength down the road.
ViaSat belongs to the Zacks Wireless Equipment industry. Another stock from the same industry, Clearfield (CLFD - Free Report) , closed the last trading session 4.3% higher at $31.95. Over the past month, CLFD has returned 0.6%.
Clearfield's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.06. Compared to the company's year-ago EPS, this represents a change of -53.9%. Clearfield currently boasts a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
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ViaSat (VSAT) Surges 11.3%: Is This an Indication of Further Gains?
ViaSat (VSAT - Free Report) shares soared 11.3% in the last trading session to close at $78.26. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.8% gain over the past four weeks.
The uptrend was largely due to its collaboration with Terrestar Solutions and Space42, which strengthens its position in the rapidly expanding direct-to-device and mobile satellite services markets. The proposed integration of Terrestar’s CaStar constellation with the Equatys platform, co-founded by Viasat and Space42, is expected to enhance global connectivity, improve spectrum and infrastructure utilization and reduce capital and operating costs through shared resources.
The collaboration should also accelerate the adoption of standards-based satellite connectivity while enabling Viasat to expand its ecosystem of regional and national operators. These developments bode well for the company’s long-term growth prospects by creating opportunities to capture rising demand for next-generation satellite communication services.
This provider of satellite and wireless networking technology is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $1.2 billion, up 5.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ViaSat, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VSAT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
ViaSat belongs to the Zacks Wireless Equipment industry. Another stock from the same industry, Clearfield (CLFD - Free Report) , closed the last trading session 4.3% higher at $31.95. Over the past month, CLFD has returned 0.6%.
Clearfield's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.06. Compared to the company's year-ago EPS, this represents a change of -53.9%. Clearfield currently boasts a Zacks Rank of #3 (Hold).