SBA Communications (NASDAQ:SBAC) Price Target Increased to $408.00 by Analysts at Credit Suisse Group

SBA Communications (NASDAQ:SBACGet Rating) had its price target increased by Credit Suisse Group from $405.00 to $408.00 in a report released on Tuesday morning, MarketBeat.com reports. They currently have an outperform rating on the technology company’s stock.

Several other research analysts have also recently commented on the stock. Morgan Stanley decreased their target price on shares of SBA Communications from $389.00 to $361.00 and set an overweight rating for the company in a report on Wednesday, July 20th. Raymond James raised their target price on shares of SBA Communications from $385.00 to $410.00 and gave the stock a strong-buy rating in a report on Tuesday, April 26th. KeyCorp decreased their target price on shares of SBA Communications from $393.00 to $367.00 and set an overweight rating for the company in a report on Friday, July 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of SBA Communications from $375.00 to $385.00 in a report on Tuesday. Finally, UBS Group raised their target price on shares of SBA Communications from $400.00 to $410.00 and gave the stock a buy rating in a report on Tuesday. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of Moderate Buy and an average price target of $385.41.

SBA Communications Price Performance

Shares of SBAC opened at $338.17 on Tuesday. The firm’s 50 day moving average is $323.45 and its 200-day moving average is $328.21. The stock has a market capitalization of $36.46 billion, a P/E ratio of 85.40 and a beta of 0.43. SBA Communications has a 12-month low of $286.41 and a 12-month high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last announced its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). SBA Communications had a negative return on equity of 8.54% and a net margin of 18.40%. The business had revenue of $652.01 million during the quarter, compared to analyst estimates of $626.30 million. During the same period in the prior year, the firm earned $2.64 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts forecast that SBA Communications will post 11.08 EPS for the current fiscal year.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 1,000 shares of SBA Communications stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $338.05, for a total value of $338,050.00. Following the completion of the sale, the executive vice president now directly owns 23,884 shares in the company, valued at $8,073,986.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SBA Communications news, EVP Mark R. Ciarfella sold 1,000 shares of SBA Communications stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $338.05, for a total value of $338,050.00. Following the completion of the sale, the executive vice president now directly owns 23,884 shares in the company, valued at $8,073,986.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Stoops sold 30,000 shares of SBA Communications stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the completion of the transaction, the chief executive officer now directly owns 83,668 shares in the company, valued at approximately $28,787,648.76. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors have recently modified their holdings of SBAC. International Assets Investment Management LLC bought a new position in shares of SBA Communications in the fourth quarter valued at approximately $51,000. Janney Montgomery Scott LLC increased its position in SBA Communications by 19.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,821 shares of the technology company’s stock worth $1,876,000 after acquiring an additional 792 shares during the period. Bailey Value Limited Partnership bought a new position in SBA Communications during the fourth quarter worth $1,945,000. Commonwealth Equity Services LLC increased its position in SBA Communications by 72.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,286 shares of the technology company’s stock worth $4,001,000 after acquiring an additional 4,315 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in SBA Communications by 45.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 2,383 shares of the technology company’s stock worth $927,000 after acquiring an additional 747 shares during the period. Institutional investors own 95.41% of the company’s stock.

SBA Communications Company Profile

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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