SBA Communications Corporation (NASDAQ:SBAC) had its target price upped by Citigroup Inc. from $140.00 to $168.00 in a report issued on Monday. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup Inc.’s price target indicates a potential upside of 10.53% from the company’s previous close.

A number of other research analysts also recently commented on SBAC. BidaskClub raised shares of SBA Communications Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $159.00 price objective (up from $147.00) on shares of SBA Communications Corporation in a research report on Thursday, August 24th. Jefferies Group LLC boosted their price objective on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “buy” rating on shares of SBA Communications Corporation in a research report on Wednesday, August 2nd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $148.00 price objective on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. SBA Communications Corporation currently has a consensus rating of “Buy” and a consensus price target of $144.43.

Shares of SBA Communications Corporation (SBAC) opened at 152.00 on Monday. The stock’s 50 day moving average is $139.18 and its 200 day moving average is $128.10. The stock has a market cap of $18.29 billion, a price-to-earnings ratio of 522.34 and a beta of 0.73. SBA Communications Corporation has a 52-week low of $95.66 and a 52-week high of $153.13.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $426.10 million. During the same period in the previous year, the firm posted $1.48 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts expect that SBA Communications Corporation will post $0.94 earnings per share for the current fiscal year.

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In other news, EVP Mark R. Ciarfella sold 9,655 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 21,403 shares in the company, valued at $3,012,258.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George R. Krouse, Jr. sold 187 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $138.43, for a total transaction of $25,886.41. Following the completion of the sale, the director now owns 10,896 shares of the company’s stock, valued at $1,508,333.28. The disclosure for this sale can be found here. Insiders sold 27,861 shares of company stock valued at $3,965,463 over the last 90 days. 2.40% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in shares of SBA Communications Corporation by 18.8% in the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after buying an additional 120 shares during the last quarter. Creative Planning boosted its stake in shares of SBA Communications Corporation by 40.7% in the second quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after buying an additional 253 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of SBA Communications Corporation during the second quarter worth $159,000. Van ECK Associates Corp boosted its stake in shares of SBA Communications Corporation by 17.0% in the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock worth $146,000 after buying an additional 177 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of SBA Communications Corporation by 9.7% in the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

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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