SBA Communications (NASDAQ:SBAC) Price Target Cut to $309.00

SBA Communications (NASDAQ:SBAC) had its price objective reduced by Raymond James from $327.00 to $309.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the technology company’s stock. Raymond James’ price target would suggest a potential upside of 21.36% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Smith Barney Citigroup decreased their target price on SBA Communications from $350.00 to $336.00 in a research note on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on SBA Communications from $335.00 to $325.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley upped their price objective on SBA Communications from $309.00 to $316.00 and gave the company an “equal weight” rating in a research report on Friday, December 11th. Wells Fargo & Company reduced their price objective on SBA Communications from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, December 10th. Finally, Credit Suisse Group reduced their price objective on SBA Communications from $291.00 to $277.00 and set a “neutral” rating on the stock in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. SBA Communications presently has an average rating of “Buy” and a consensus price target of $314.64.

SBA Communications stock traded down $5.09 during trading hours on Tuesday, reaching $254.61. The stock had a trading volume of 9,429 shares, compared to its average volume of 726,411. The company has a market cap of $28.29 billion, a price-to-earnings ratio of -1,715.02 and a beta of 0.21. The business’s 50 day moving average price is $268.39 and its 200-day moving average price is $290.87. SBA Communications has a 52 week low of $205.20 and a 52 week high of $328.37.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, February 22nd. The technology company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.42. The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $530.25 million. During the same quarter in the prior year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that SBA Communications will post 8.8 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of SBAC. Arlington Partners LLC acquired a new position in shares of SBA Communications during the 4th quarter worth about $28,000. Vantage Consulting Group Inc bought a new position in shares of SBA Communications during the fourth quarter worth approximately $28,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of SBA Communications during the 4th quarter worth approximately $49,000. Harvest Fund Management Co. Ltd boosted its position in shares of SBA Communications by 281.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 160 shares of the technology company’s stock worth $51,000 after acquiring an additional 118 shares in the last quarter. Finally, Ancora Advisors LLC boosted its position in SBA Communications by 529.0% in the fourth quarter. Ancora Advisors LLC now owns 195 shares of the technology company’s stock valued at $55,000 after buying an additional 164 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

SBA Communications Company Profile

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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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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