Raymond James Increases SBA Communications (NASDAQ:SBAC) Price Target to $334.00

SBA Communications (NASDAQ:SBACGet Rating) had its price target increased by analysts at Raymond James from $308.00 to $334.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has a “strong-buy” rating on the technology company’s stock. Raymond James’ price target would suggest a potential upside of 12.23% from the company’s current price.

SBAC has been the topic of several other reports. UBS Group dropped their price objective on shares of SBA Communications to $365.00 in a report on Friday, November 4th. Cowen lowered their price target on shares of SBA Communications from $389.00 to $341.00 and set an “outperform” rating on the stock in a report on Tuesday, November 1st. Wells Fargo & Company lowered their price target on shares of SBA Communications from $355.00 to $325.00 and set an “overweight” rating on the stock in a report on Tuesday, October 18th. Morgan Stanley lowered their price target on shares of SBA Communications from $366.00 to $309.00 and set an “overweight” rating on the stock in a report on Tuesday, October 18th. Finally, StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $345.47.

SBA Communications Stock Up 1.2 %

NASDAQ SBAC opened at $297.61 on Wednesday. The company has a market cap of $32.13 billion, a PE ratio of 80.22 and a beta of 0.46. SBA Communications has a 52 week low of $236.20 and a 52 week high of $391.15. The firm’s 50-day simple moving average is $277.57 and its two-hundred day simple moving average is $310.20.

SBA Communications (NASDAQ:SBACGet Rating) last released its quarterly earnings data on Monday, October 31st. The technology company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). The business had revenue of $675.60 million for the quarter, compared to analysts’ expectations of $651.42 million. SBA Communications had a net margin of 16.01% and a negative return on equity of 7.57%. SBA Communications’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the company earned $2.71 earnings per share. As a group, equities research analysts anticipate that SBA Communications will post 11.34 EPS for the current year.

Institutional Trading of SBA Communications

Large investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in SBA Communications in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC boosted its holdings in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after acquiring an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in SBA Communications by 71.7% in the third quarter. EverSource Wealth Advisors LLC now owns 91 shares of the technology company’s stock valued at $26,000 after acquiring an additional 38 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in SBA Communications by 52.5% in the second quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock valued at $30,000 after acquiring an additional 32 shares in the last quarter. Finally, Private Trust Co. NA bought a new stake in SBA Communications in the second quarter valued at $30,000. Institutional investors own 94.45% 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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