SBA Communications (NASDAQ:SBAC) PT Lowered to $277.00 at Credit Suisse Group


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SBA Communications (NASDAQ:SBAC) had its price objective lowered by research analysts at Credit Suisse Group from $291.00 to $277.00 in a report released on Tuesday, The Fly reports. The firm presently has a “neutral” rating on the technology company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 6.66% from the stock’s current price.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating and set a $293.00 target price for the company in a research report on Tuesday, January 5th. Smith Barney Citigroup decreased their price target on shares of SBA Communications from $350.00 to $336.00 in a report on Tuesday, November 3rd. Barclays boosted their target price on SBA Communications from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James cut their price objective on SBA Communications from $366.00 to $327.00 and set an “outperform” rating on the stock in a report on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. downgraded shares of SBA Communications from an “overweight” rating to a “neutral” rating and set a $305.00 target price on the stock. in a report on Monday, February 8th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $315.93.

Shares of SBAC stock opened at $259.70 on Tuesday. The firm has a market cap of $28.86 billion, a price-to-earnings ratio of -1,731.22 and a beta of 0.21. SBA Communications has a 12 month low of $205.20 and a 12 month high of $328.37. The stock has a 50-day moving average price of $268.39 and a 200 day moving average price of $290.87.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Sunday, February 21st. The technology company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.42. The business had revenue of $536.00 million during the quarter, compared to analyst estimates of $530.25 million. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, analysts expect that SBA Communications will post 8.8 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its holdings in SBA Communications by 238.9% during the third quarter. CIBC Private Wealth Group LLC now owns 434,981 shares of the technology company’s stock worth $138,532,000 after purchasing an additional 306,618 shares during the period. Morgan Stanley boosted its holdings in shares of SBA Communications by 35.4% during the 4th quarter. Morgan Stanley now owns 870,004 shares of the technology company’s stock worth $245,456,000 after buying an additional 227,280 shares during the period. Daiwa Securities Group Inc. grew its stake in SBA Communications by 3,880.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 197,316 shares of the technology company’s stock valued at $62,841,000 after buying an additional 192,359 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in SBA Communications by 20.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,047,820 shares of the technology company’s stock valued at $333,710,000 after acquiring an additional 174,568 shares during the period. Finally, Skye Global Management LP raised its holdings in SBA Communications by 78.7% in the 4th quarter. Skye Global Management LP now owns 381,500 shares of the technology company’s stock valued at $107,633,000 after acquiring an additional 168,000 shares during the period. Hedge funds and other 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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