Raymond James Boosts SBA Communications (NASDAQ:SBAC) Price Target to $300.00

SBA Communications (NASDAQ:SBAC) had its price target lifted by Raymond James from $285.00 to $300.00 in a research note published on Tuesday, Benzinga reports. Raymond James currently has a strong-buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on the stock. KeyCorp raised their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. BMO Capital Markets cut their price objective on SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Barclays raised their price objective on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Stock Down 3.4 %

SBA Communications stock opened at $231.75 on Tuesday. The stock has a market cap of $24.91 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 0.73 and a beta of 0.67. The business has a 50-day simple moving average of $237.52 and a 200 day simple moving average of $214.04. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.34 EPS. On average, research analysts anticipate that SBA Communications will post 12.52 earnings per share for the current year.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated 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 directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications 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 sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock valued at $11,483,981 in the last quarter. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings 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 worth $5,597,000 after buying an additional 16,962 shares during the period. FORA Capital LLC bought a new stake in shares of SBA Communications during the first quarter valued at approximately $4,872,000. Virtu Financial LLC purchased a new stake in SBA Communications in the first quarter worth $1,764,000. Easterly Investment Partners LLC bought a new position in SBA Communications in the first quarter worth $1,412,000. Finally, Centersquare Investment Management LLC lifted its position in SBA Communications by 1.9% during the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock valued at $36,488,000 after buying an additional 3,087 shares during the period. Institutional investors own 97.35% of the company’s stock.

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.