TD Cowen Issues Positive Forecast for SBA Communications (NASDAQ:SBAC) Stock Price

Key Points

• TD Cowen raised its SBA Communications price target from $229 to $239 and maintained a “Buy” rating, implying approximately 31% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with an average target of $226.
• SBA Communications beat third-quarter EPS expectations, reporting $2.19 versus the $2.09 consensus, but revenue of $713.9 million fell short and declined 2.5% year over year. The company also faced approximately $110 million in churn-related drag and continued U.S. leasing weakness.
• Shares fell 1.5% to $182 during Tuesday trading, while the company repurchased about 1.7 million shares and declared a quarterly dividend of $1.25 per share. Institutional investors own approximately 97.35% of the stock.

SBA Communications (NASDAQ:SBAC - Get Free Report) had its price objective boosted by analysts at TD Cowen from $229.00 to $239.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. TD Cowen's price objective suggests a potential upside of 31.32% from the stock's previous close.

A number of other research firms have also recently commented on SBAC. Morgan Stanley lowered their price objective on shares of SBA Communications from $215.00 to $205.00 and set an "equal weight" rating for the company in a research report on Monday, September 21st. Royal Bank Of Canada reduced their target price on SBA Communications from $245.00 to $210.00 and set an "outperform" rating on the stock in a report on Friday, July 10th. UBS Group cut SBA Communications from a "market perform" rating to a "hold" rating in a research note on Monday, August 24th. Truist Financial lowered their price target on SBA Communications from $248.00 to $238.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Finally, Wolfe Research raised SBA Communications from a "hold" rating to an "outperform" rating in a research report on Tuesday, August 4th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, SBA Communications currently has an average rating of "Moderate Buy" and a consensus price target of $226.00.

SBA Communications Trading Down 1.5%

Shares of NASDAQ:SBAC traded down $2.87 during mid-day trading on Tuesday, reaching $182.00. The stock had a trading volume of 161,655 shares, compared to its average volume of 1,046,338. The firm has a 50 day simple moving average of $179.46 and a two-hundred day simple moving average of $190.01. SBA Communications has a twelve month low of $156.60 and a twelve month high of $224.46. The firm has a market cap of $19.31 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.85 and a beta of 0.97.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.10. The firm had revenue of $713.92 million during the quarter, compared to analysts' expectations of $724.07 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.30 earnings per share. On average, equities analysts anticipate that SBA Communications will post 11.40 EPS for the current fiscal year.

Insider Activity

In other news, Director George R. Krouse, Jr. sold 300 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the sale, the director owned 8,512 shares of the company's stock, valued at $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On SBA Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of SBA Communications by 5.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company's stock valued at $46,067,000 after purchasing an additional 14,317 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of SBA Communications during the 2nd quarter worth about $1,011,000. Nykredit A S bought a new stake in shares of SBA Communications during the 2nd quarter worth about $7,298,000. Headlands Technologies LLC grew its stake in SBA Communications by 303.5% in the 2nd quarter. Headlands Technologies LLC now owns 8,728 shares of the technology company's stock valued at $1,540,000 after buying an additional 6,565 shares during the last quarter. Finally, Delta Global Management LP acquired a new stake in SBA Communications during the first quarter worth approximately $2,162,000. 97.35% of the stock is owned by institutional investors.

Key Stories Impacting SBA Communications

Here are the key news stories impacting SBA Communications this week:

• Positive Sentiment: Third-quarter adjusted funds from operations (AFFO) totaled $3.19 per share, exceeding the $3.08 consensus estimate, while adjusted EPS of $2.19 also beat expectations of $2.09. SBA Communications Tops Q3 FFO Estimates
• Positive Sentiment: SBA Communications repurchased approximately 1.7 million shares during the quarter, which can support per-share results. The company also declared a quarterly dividend of $1.25 per share, or $5.00 annualized, representing a yield of about 2.7%. SBA Communications Third Quarter Results and Outlook
• Neutral Sentiment: Morgan Stanley maintained its Hold rating and $205 price target, viewing the stock’s risk-reward profile as balanced amid ongoing leasing headwinds. Morgan Stanley Maintains Hold Rating
• Negative Sentiment: Third-quarter revenue was $713.9 million, below the $724.1 million consensus estimate and down 2.5% year over year. EPS also fell from $3.30 in the prior-year quarter, highlighting weaker operating trends despite the quarterly beat. SBA Communications Q3 Revenue Results
• Negative Sentiment: Management’s 2026 revenue outlook of $2.8 billion to $2.9 billion includes the consensus estimate only at the top end. Reports also highlighted approximately $110 million of churn-related drag and continued weakness in U.S. leasing, raising concerns about near-term tower demand and growth. SBA Communications Q3 Earnings and Churn Drag

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company's portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.

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