Credit Suisse Group Raises SBA Communications (NASDAQ:SBAC) Price Target to $405.00

SBA Communications (NASDAQ:SBACGet Rating) had its price objective increased by stock analysts at Credit Suisse Group from $383.00 to $405.00 in a report released on Tuesday, The Fly reports. Credit Suisse Group’s target price suggests a potential upside of 12.52% from the company’s previous close.

Several other brokerages have also issued reports on SBAC. KeyCorp lifted their target price on shares of SBA Communications from $379.00 to $384.00 and gave the company an “overweight” rating in a research report on Tuesday, March 1st. Barclays lifted their target price on shares of SBA Communications from $373.00 to $378.00 and gave the company an “overweight” rating in a research report on Tuesday, April 19th. Jefferies Financial Group lowered shares of SBA Communications from a “buy” rating to a “hold” rating and dropped their target price for the company from $405.00 to $377.00 in a research report on Monday, January 10th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $375.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, April 18th. Finally, Morgan Stanley lifted their target price on shares of SBA Communications from $384.00 to $412.00 and gave the company an “overweight” rating in a research report on Thursday, April 7th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $389.64.

SBAC stock opened at $359.94 on Tuesday. The firm has a 50 day moving average of $334.04 and a 200-day moving average of $340.89. SBA Communications has a 12 month low of $281.45 and a 12 month high of $391.15. The firm has a market capitalization of $38.84 billion, a P/E ratio of 168.99 and a beta of 0.44.

SBA Communications (NASDAQ:SBACGet Rating) last released its quarterly earnings data on Monday, April 25th. The technology company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.96). SBA Communications had a net margin of 10.29% and a negative return on equity of 4.72%. The firm had revenue of $619.77 million during the quarter, compared to the consensus estimate of $603.91 million. During the same quarter last year, the business posted $2.58 earnings per share. SBA Communications’s revenue was up 12.9% compared to the same quarter last year. Analysts anticipate that SBA Communications will post 11.02 EPS for the current fiscal year.

In related news, Director George R. Krouse, Jr. sold 500 shares of SBA Communications stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $328.88, for a total value of $164,440.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kurt L. Bagwell sold 3,757 shares of SBA Communications stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $330.00, for a total transaction of $1,239,810.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,260 shares of company stock worth $1,404,992. 1.80% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. PFG Advisors increased its position in SBA Communications by 1.2% during the 1st quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock valued at $902,000 after purchasing an additional 30 shares during the period. Hotaling Investment Management LLC increased its position in SBA Communications by 4.9% during the 1st quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company’s stock valued at $244,000 after purchasing an additional 33 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in SBA Communications by 1.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,870 shares of the technology company’s stock valued at $1,116,000 after purchasing an additional 34 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in SBA Communications by 1.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,320 shares of the technology company’s stock valued at $767,000 after purchasing an additional 40 shares during the period. Finally, Harbor Investment Advisory LLC increased its position in SBA Communications by 11.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 436 shares of the technology company’s stock valued at $170,000 after purchasing an additional 46 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

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 ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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