SBA Communications (NASDAQ:SBAC) Now Covered by Analysts at JMP Securities

Research analysts at JMP Securities began coverage on shares of SBA Communications (NASDAQ:SBAC) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $250.00 price target on the technology company’s stock. JMP Securities’ price target points to a potential upside of 27.01% from the stock’s current price.

A number of other research analysts also recently commented on the stock. TD Cowen increased their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Raymond James lifted their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Barclays cut their target price on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company lowered their price objective on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $196.83 on Monday. SBA Communications has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a market cap of $21.16 billion, a P/E ratio of 31.05, a P/E/G ratio of 0.70 and a beta of 0.69. The stock has a 50-day simple moving average of $209.38 and a 200-day simple moving average of $221.84.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same period last year, the company earned $3.34 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities research analysts predict that SBA Communications will post 12.57 EPS for the current year.

Insider Activity

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC raised its stake in shares of SBA Communications by 238.2% during the 2nd quarter. Squarepoint Ops LLC now owns 10,875 shares of the technology company’s stock worth $2,135,000 after buying an additional 7,659 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of SBA Communications in the second quarter valued at about $1,702,000. The Manufacturers Life Insurance Company grew its position in shares of SBA Communications by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 85,515 shares of the technology company’s stock valued at $16,787,000 after purchasing an additional 2,999 shares during the last quarter. Clear Rock Advisors LLC raised its position in shares of SBA Communications by 13.8% during the 2nd quarter. Clear Rock Advisors LLC now owns 9,043 shares of the technology company’s stock worth $1,775,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in SBA Communications in the 2nd quarter valued at approximately $932,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.