SBA Communications (NASDAQ:SBAC) PT Raised to $385.00 at Deutsche Bank Aktiengesellschaft

SBA Communications (NASDAQ:SBAC – Get Rating) had its target price boosted by investment analysts at Deutsche Bank Aktiengesellschaft from $375.00 to $385.00 in a note issued to investors on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 11.96% from the company’s previous close.

Several other analysts have also recently issued reports on SBAC. Wells Fargo & Company reduced their price objective on SBA Communications from $390.00 to $355.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. 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 research note on Friday, July 1st. Raymond James increased their target price on shares of SBA Communications from $385.00 to $410.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 26th. Moffett Nathanson downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $393.00 to $380.00 in a research note on Monday, April 11th. Finally, The Goldman Sachs Group reduced their price objective on shares of SBA Communications from $424.00 to $381.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $385.88.

SBA Communications Trading Up 1.7 %

Shares of NASDAQ:SBAC opened at $343.87 on Tuesday. SBA Communications has a 12-month low of $286.41 and a 12-month high of $391.15. The business’s fifty day simple moving average is $323.40 and its 200-day simple moving average is $328.31. The company has a market capitalization of $37.08 billion, a PE ratio of 106.46 and a beta of 0.43.

SBA Communications (NASDAQ:SBAC – Get Rating) last announced its earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.26). The business had revenue of $652.01 million for the quarter, compared to analysts’ expectations of $626.30 million. SBA Communications had a negative return on equity of 6.79% and a net margin of 14.45%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.64 earnings per share. Research analysts predict that SBA Communications will post 11.08 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV increased its position in shares of SBA Communications by 2.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,149 shares of the technology company’s stock worth $4,337,000 after purchasing an additional 303 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of SBA Communications by 118.7% in the 1st quarter. IFM Investors Pty Ltd now owns 31,029 shares of the technology company’s stock worth $10,677,000 after purchasing an additional 16,839 shares during the last quarter. Chartwell Investment Partners LLC bought a new stake in shares of SBA Communications in the 4th quarter worth about $1,958,000. Mutual of America Capital Management LLC increased its position in shares of SBA Communications by 8.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,588 shares of the technology company’s stock worth $5,364,000 after purchasing an additional 1,223 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of SBA Communications during the 4th quarter valued at about $249,000. Institutional investors own 95.41% of the company’s stock.

SBA Communications Company Profile

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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.