SBA Communications (NASDAQ:SBAC) Given New $410.00 Price Target at UBS Group

SBA Communications (NASDAQ:SBAC – Get Rating) had its price objective upped by UBS Group from $400.00 to $410.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research analysts have also weighed in on the stock. Morgan Stanley decreased their price target on shares of SBA Communications from $389.00 to $361.00 and set an overweight rating on the stock in a research note on Wednesday, July 20th. Cowen increased their price objective on shares of SBA Communications from $373.00 to $382.00 in a report on Tuesday, April 26th. StockNews.com downgraded shares of SBA Communications from a buy rating to a hold rating in a report on Friday, June 10th. Raymond James increased their price objective on shares of SBA Communications from $385.00 to $410.00 and gave the company a strong-buy rating in a report on Tuesday, April 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $375.00 to $385.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $385.41.

SBA Communications Trading Up 1.6 %

Shares of SBA Communications stock opened at $338.17 on Tuesday. The firm has a market capitalization of $36.46 billion, a PE ratio of 85.40 and a beta of 0.43. SBA Communications has a twelve month low of $286.41 and a twelve month high of $391.15. The firm’s 50-day moving average price is $323.45 and its 200 day moving average price is $328.21.

SBA Communications (NASDAQ:SBAC – Get Rating) last issued its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $652.01 million during the quarter, compared to analysts’ expectations of $626.30 million. SBA Communications had a net margin of 18.40% and a negative return on equity of 8.54%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.64 earnings per share. On average, sell-side analysts predict that SBA Communications will post 11.08 EPS for the current fiscal year.

Insider Activity at SBA Communications

In related news, EVP Mark R. Ciarfella sold 1,000 shares of SBA Communications stock in a transaction that occurred on 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 in the company, valued at approximately $8,073,986.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mark R. Ciarfella sold 1,000 shares of SBA Communications stock in a transaction that occurred on 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 in the company, valued at approximately $8,073,986.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Stoops sold 30,000 shares of SBA Communications stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the completion of the sale, the chief executive officer now owns 83,668 shares of the company’s stock, valued at approximately $28,787,648.76. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBAC. GHP Investment Advisors Inc. purchased a new position in SBA Communications in the 1st quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in SBA Communications in the 1st quarter valued at approximately $26,000. Crewe Advisors LLC purchased a new position in SBA Communications in the 2nd quarter valued at approximately $26,000. Curi Wealth Management LLC purchased a new position in SBA Communications in the 4th quarter valued at approximately $30,000. Finally, AdvisorNet Financial Inc boosted its position in SBA Communications by 52.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock valued at $30,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 95.41% of the company’s stock.

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.