SBA Communications Corporation (NASDAQ:SBAC) has earned an average rating of “Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $146.54.

Several analysts have commented on SBAC shares. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price target on the stock in a research note on Thursday, July 20th. Barclays PLC reiterated an “overweight” rating and issued a $148.00 price target on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. Deutsche Bank AG reiterated a “hold” rating and issued a $150.00 price target (up previously from $133.00) on shares of SBA Communications Corporation in a research note on Friday, July 14th. BidaskClub upgraded shares of SBA Communications Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, KeyCorp upgraded shares of SBA Communications Corporation from a “sector weight” rating to an “overweight” rating and set a $170.00 price target on the stock in a research note on Wednesday, September 27th.

SBA Communications Corporation (SBAC) traded up 1.3771% on Wednesday, reaching $150.4639. The company had a trading volume of 468,109 shares. The stock has a market capitalization of $18.11 billion, a PE ratio of 501.5463 and a beta of 0.69. SBA Communications Corporation has a 12-month low of $95.66 and a 12-month high of $154.71. The stock’s 50 day moving average price is $147.77 and its 200-day moving average price is $136.05.

SBA Communications Corporation (NASDAQ:SBAC) last released its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The firm had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $426.10 million. During the same quarter last year, the firm posted $1.48 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that SBA Communications Corporation will post $0.94 earnings per share for the current fiscal year.

In other news, EVP Mark R. Ciarfella sold 9,655 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $140.74, for a total value of $1,358,844.70. Following the sale, the executive vice president now directly owns 21,403 shares in the company, valued at approximately $3,012,258.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Brian D. Lazarus sold 7,376 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the completion of the sale, the senior vice president now owns 17,525 shares in the company, valued at $2,660,119.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,674 shares of company stock worth $2,706,217. Insiders own 2.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of SBAC. Iridian Asset Management LLC CT increased its holdings in shares of SBA Communications Corporation by 88.1% in the 2nd quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock worth $356,298,000 after buying an additional 1,237,008 shares during the last quarter. PointState Capital LP bought a new stake in shares of SBA Communications Corporation in the 2nd quarter worth about $149,091,000. Victory Capital Management Inc. increased its holdings in shares of SBA Communications Corporation by 147,836.3% in the 2nd quarter. Victory Capital Management Inc. now owns 687,904 shares of the technology company’s stock worth $92,799,000 after buying an additional 687,439 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of SBA Communications Corporation by 41.4% in the 2nd quarter. American Century Companies Inc. now owns 2,230,739 shares of the technology company’s stock worth $300,927,000 after buying an additional 652,647 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of SBA Communications Corporation by 1,343.6% in the 2nd quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock worth $88,631,000 after buying an additional 611,497 shares during the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

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SBA Communications Corporation Company Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

Analyst Recommendations for SBA Communications Corporation (NASDAQ:SBAC)

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