SBA Communications (NASDAQ:SBAC) Earns Outperform Rating from Analysts at JMP Securities

Equities research analysts at JMP Securities assumed coverage on shares of SBA Communications (NASDAQ:SBACGet Free Report) in a research note issued on Monday, MarketBeat reports. The firm set an “outperform” rating and a $250.00 price target on the technology company’s stock. JMP Securities’ price target suggests a potential upside of 23.96% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Barclays decreased their price objective on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wells Fargo & Company dropped their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Raymond James raised their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. KeyCorp upped their price target on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $252.29.

Check Out Our Latest Stock Report on SBA Communications

SBA Communications Stock Down 3.0 %

SBA Communications stock opened at $201.67 on Monday. The stock has a market capitalization of $21.68 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69. SBA Communications has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a 50 day moving average of $209.11 and a 200-day moving average of $221.82.

SBA Communications (NASDAQ:SBACGet Free Report) last released its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the firm posted $3.34 EPS. The company’s revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that SBA Communications will post 12.57 EPS for the current fiscal year.

Insider Activity

In related news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in SBA Communications in the 3rd quarter worth $26,000. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the fourth quarter worth about $27,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter valued at about $35,000. Oakworth Capital Inc. lifted its stake in shares of SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. Finally, Friedenthal Financial bought a new position in SBA Communications during the 3rd quarter worth approximately $50,000. 97.35% of the stock is currently owned by institutional investors.

About SBA Communications

(Get Free Report)

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.

See Also

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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