SBA Communications (NASDAQ:SBAC) PT Raised to $240.00 at Wells Fargo & Company

by · The Markets Daily

SBA Communications (NASDAQ:SBAC – Get Free Report) had its price target hoisted by stock analysts at Wells Fargo & Company from $220.00 to $240.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 2.78% from the stock’s current price.

SBAC has been the subject of several other research reports. TD Cowen reduced their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Barclays reduced their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. KeyCorp increased their price target on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.42.

Check Out Our Latest Report on SBA Communications

SBA Communications Price Performance

Shares of SBAC stock opened at $233.51 on Thursday. The firm has a 50-day moving average of $231.22 and a 200-day moving average of $211.35. The company has a market cap of $25.09 billion, a P/E ratio of 45.79, a P/E/G ratio of 0.71 and a beta of 0.67. SBA Communications has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBAC – Get Free Report) last announced its earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The firm had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.24 EPS. As a group, research analysts expect that SBA Communications will post 12.52 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SBA Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after purchasing an additional 16,962 shares in the last quarter. Wellington Management Group LLP raised its stake in SBA Communications by 596.2% in the fourth quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after purchasing an additional 192,791 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in SBA Communications in the fourth quarter valued at approximately $3,779,000. FORA Capital LLC purchased a new stake in SBA Communications in the first quarter valued at approximately $4,872,000. Finally, Virtu Financial LLC purchased a new stake in SBA Communications in the first quarter valued at approximately $1,764,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Company Profile

(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.

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