SBA Communications (NASDAQ:SBAC) Shares Gap Up – Should You Buy?

SBA Communications Co. (NASDAQ:SBAC) shares gapped up before the market opened on Monday . The stock had previously closed at $196.83, but opened at $205.40. SBA Communications shares last traded at $205.49, with a volume of 223,400 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SBAC. Barclays reduced their price target on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Raymond James increased their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. TD Cowen boosted their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company decreased their price objective on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

SBA Communications Stock Performance

The stock has a market capitalization of $22.20 billion, a P/E ratio of 32.61, a PEG ratio of 0.70 and a beta of 0.69. The firm’s 50-day simple moving average is $209.38 and its 200 day simple moving average is $221.84.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the company posted $3.34 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts expect that SBA Communications Co. will post 12.57 earnings per share for the current fiscal year.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in SBA Communications in the third quarter valued at approximately $26,000. Evermay Wealth Management LLC acquired a new stake in SBA Communications in the fourth quarter valued at about $27,000. Capital Performance Advisors LLP bought a new position in SBA Communications in the third quarter valued at about $35,000. Friedenthal Financial acquired a new position in SBA Communications during the third quarter worth about $50,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

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.