UBS Group Increases SBA Communications (NASDAQ:SBAC) Price Target to $410.00

SBA Communications (NASDAQ:SBACGet Rating) had its price objective lifted by analysts at UBS Group from $400.00 to $410.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the technology company’s stock. UBS Group’s price objective would suggest a potential upside of 19.23% from the stock’s previous close.

Several other research analysts have also recently weighed in on SBAC. Wells Fargo & Company reduced their price objective on SBA Communications from $390.00 to $355.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft upped their target price on SBA Communications from $375.00 to $385.00 in a report on Tuesday. Morgan Stanley dropped their target price on SBA Communications from $389.00 to $361.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Cowen upped their target price on SBA Communications from $373.00 to $382.00 in a report on Tuesday, April 26th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $385.88.

SBA Communications Stock Up 1.7 %

SBAC stock opened at $343.87 on Tuesday. SBA Communications has a twelve month low of $286.41 and a twelve month high of $391.15. The business has a fifty day moving average of $323.40 and a 200-day moving average of $328.31. The company has a market cap of $37.08 billion, a P/E ratio of 106.46 and a beta of 0.43.

SBA Communications (NASDAQ:SBACGet Rating) last announced its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). SBA Communications had a negative return on equity of 6.79% and a net margin of 14.45%. The company had revenue of $652.01 million for the quarter, compared to analyst estimates of $626.30 million. During the same period last year, the firm earned $2.64 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts anticipate that SBA Communications will post 11.08 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of SBA Communications

Several large investors have recently made changes to their positions in SBAC. Norges Bank acquired a new stake in shares of SBA Communications in the 4th quarter valued at about $339,836,000. American Century Companies Inc. boosted its stake in SBA Communications by 93.3% during the 1st quarter. American Century Companies Inc. now owns 1,396,737 shares of the technology company’s stock valued at $480,617,000 after purchasing an additional 674,248 shares during the last quarter. Invesco Ltd. boosted its stake in SBA Communications by 45.1% during the 1st quarter. Invesco Ltd. now owns 2,099,226 shares of the technology company’s stock valued at $722,344,000 after purchasing an additional 652,954 shares during the last quarter. BlackRock Inc. boosted its stake in SBA Communications by 3.7% during the 4th quarter. BlackRock Inc. now owns 9,895,814 shares of the technology company’s stock valued at $3,849,667,000 after purchasing an additional 352,616 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in SBA Communications by 12.1% during the 4th quarter. Deutsche Bank AG now owns 3,048,354 shares of the technology company’s stock valued at $1,185,871,000 after purchasing an additional 328,421 shares during the last quarter. 95.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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