SBA Communications (NASDAQ:SBAC) PT Raised to $250.00 at JPMorgan Chase & Co.

SBA Communications (NASDAQ:SBAC) had its price target upped by analysts at JPMorgan Chase & Co. from $228.00 to $250.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.31% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Barclays decreased their price objective on SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. TD Cowen cut their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets dropped their price objective on SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group started coverage on SBA Communications in a research report on Monday, July 1st. They issued a “neutral” rating and a $212.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.75.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $241.98 on Monday. The business has a fifty day moving average of $225.31 and a 200-day moving average of $209.47. The firm has a market cap of $26.00 billion, a PE ratio of 47.45, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same quarter in the previous year, the firm earned $3.24 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that SBA Communications will post 12.53 EPS for the current fiscal year.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,590 shares of company stock valued at $11,483,981. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently bought and sold shares of SBAC. Gilbert & Cook Inc. lifted its holdings in SBA Communications by 8.3% during the fourth quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock valued at $605,000 after purchasing an additional 183 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in SBA Communications by 11.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,330 shares of the technology company’s stock worth $3,382,000 after buying an additional 1,391 shares during the period. Commerce Bank grew its stake in SBA Communications by 4.5% in the 4th quarter. Commerce Bank now owns 2,405 shares of the technology company’s stock valued at $610,000 after buying an additional 103 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in SBA Communications by 1.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,260 shares of the technology company’s stock valued at $2,549,000 after acquiring an additional 148 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of SBA Communications by 6.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 28,310 shares of the technology company’s stock worth $7,182,000 after acquiring an additional 1,667 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.