SBA Communications (NASDAQ:SBAC) Price Target Raised to $250.00

SBA Communications (NASDAQ:SBAC) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $228.00 to $250.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 3.95% from the stock’s current price.

Several other research firms have also recently issued reports on SBAC. Wells Fargo & Company cut shares of SBA Communications from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. KeyCorp increased their price objective on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. TD Cowen decreased their target price on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.75.

SBA Communications Stock Up 0.4 %

NASDAQ SBAC traded up $1.04 during trading hours on Monday, hitting $240.51. 91,360 shares of the company were exchanged, compared to its average volume of 924,542. The firm has a market cap of $25.84 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 0.75 and a beta of 0.67. The company has a 50 day moving average of $224.12 and a two-hundred day moving average of $209.19. SBA Communications has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter in the previous year, the company posted $3.24 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts predict that SBA Communications will post 12.53 EPS for the current year.

Insider Activity at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The disclosure for this sale can be found here. Insiders have sold 51,590 shares of company stock worth $11,483,981 in the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Institutional investors have recently modified their holdings of the business. Gilbert & Cook Inc. boosted its position in shares of SBA Communications by 8.3% during the 4th quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock worth $605,000 after purchasing an additional 183 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in SBA Communications by 11.7% during the fourth quarter. Corient Private Wealth LLC now owns 13,330 shares of the technology company’s stock worth $3,382,000 after buying an additional 1,391 shares in the last quarter. Commerce Bank increased its holdings in SBA Communications by 4.5% in the fourth quarter. Commerce Bank now owns 2,405 shares of the technology company’s stock valued at $610,000 after buying an additional 103 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of SBA Communications by 1.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,260 shares of the technology company’s stock valued at $2,549,000 after acquiring an additional 148 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of SBA Communications by 6.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 28,310 shares of the technology company’s stock valued at $7,182,000 after acquiring an additional 1,667 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.