Deutsche Bank Aktiengesellschaft Raises SBA Communications (NASDAQ:SBAC) Price Target to $375.00

SBA Communications (NASDAQ:SBACGet Rating) had its price target upped by equities research analysts at Deutsche Bank Aktiengesellschaft from $365.00 to $375.00 in a report issued on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 6.78% from the company’s current price.

A number of other brokerages have also issued reports on SBAC. Morgan Stanley lifted their price target on shares of SBA Communications from $384.00 to $412.00 and gave the stock an “overweight” rating in a research note on Thursday, April 7th. Bank of America lifted their price target on shares of SBA Communications from $365.00 to $425.00 in a research note on Monday, January 3rd. Moffett Nathanson lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $393.00 to $380.00 in a research note on Monday, April 11th. Jefferies Financial Group lowered shares of SBA Communications from a “buy” rating to a “hold” rating and dropped their price target for the stock from $405.00 to $377.00 in a research note on Monday, January 10th. Finally, Cowen lifted their price target on shares of SBA Communications from $373.00 to $382.00 in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $392.67.

NASDAQ SBAC opened at $351.20 on Wednesday. The company’s fifty day simple moving average is $334.98 and its 200-day simple moving average is $340.96. SBA Communications has a 52 week low of $281.45 and a 52 week high of $391.15. The stock has a market cap of $37.90 billion, a P/E ratio of 164.88 and a beta of 0.44.

SBA Communications (NASDAQ:SBACGet Rating) last posted its earnings results on Monday, April 25th. The technology company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.72. SBA Communications had a net margin of 10.29% and a negative return on equity of 4.72%. The business had revenue of $619.77 million for the quarter, compared to analysts’ expectations of $603.91 million. During the same period in the previous year, the company posted $2.58 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications will post 11.02 earnings per share for the current fiscal year.

In other SBA Communications news, Director George R. Krouse, Jr. sold 500 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kurt L. Bagwell sold 3,757 shares of the company’s stock in a transaction dated Wednesday, March 9th. The shares were 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. Insiders sold 4,260 shares of company stock valued at $1,404,992 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

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

About SBA Communications (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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