Why ViaSat (VSAT) Stock Plummeted Today

NEW YORK (TheStreet) -- ViaSat (VSAT) stock slipped over Wednesday's session after the broadband provider reported fourth-quarter results below analysts' consensus after the bell a day earlier. 

By market close, shares had tumbled 8.2% to $53.82. 

In its March-ending quarter, the company reported net income of 10 cents a share, a penny less than analysts surveyed by THomson Reuters had forecast. Revenue of $343.9 million missed forecasts of $348.98 million, but came in 11.4% higher year over year. 

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TheStreet Ratings team rates VIASAT INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate VIASAT INC (VSAT) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."

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