Barclays Issues Pessimistic Forecast for SBA Communications (NASDAQ:SBAC) Stock Price

Key Points

• Barclays has reduced its price target for SBA Communications from $257.00 to $226.00, while maintaining an "overweight" rating on the stock.
• Other analysts have mixed views, with Morgan Stanley increasing its target to $260.00 and Bank of America lowering its target to $230.00, reflecting a consensus rating of "Moderate Buy" with an average target of $254.44.
• SBA Communications reported a quarterly earnings per share of $3.17, exceeding estimates, and indicated a year-over-year revenue growth of 5.8%.

SBA Communications (NASDAQ:SBAC - Get Free Report) had its price objective cut by stock analysts at Barclays from $257.00 to $226.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Barclays's price objective would indicate a potential upside of 13.52% from the stock's previous close.

SBAC has been the topic of a number of other research reports. JMP Securities set a $280.00 target price on SBA Communications and gave the company a "market outperform" rating in a report on Tuesday, August 5th. Morgan Stanley upped their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th. Wells Fargo & Company boosted their price objective on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Finally, UBS Group increased their price objective on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and an average price target of $251.63.

SBA Communications Stock Performance

SBAC stock traded up $0.26 during trading on Monday, hitting $199.08. The stock had a trading volume of 503,424 shares, compared to its average volume of 925,911. SBA Communications has a 1-year low of $186.81 and a 1-year high of $252.64. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The company's 50 day moving average price is $216.93 and its two-hundred day moving average price is $223.53.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The business had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same period in the prior year, the company posted $3.29 EPS. The business's revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that SBA Communications will post 12.57 earnings per share for the current fiscal year.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC increased its stake in SBA Communications by 3.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company's stock valued at $359,000 after acquiring an additional 44 shares during the last quarter. Farther Finance Advisors LLC increased its stake in SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after acquiring an additional 45 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company's stock valued at $1,440,000 after acquiring an additional 46 shares during the last quarter. Advisors Asset Management Inc. boosted its position in SBA Communications by 5.6% during the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock valued at $194,000 after buying an additional 47 shares during the period. Finally, Central Pacific Bank Trust Division boosted its position in SBA Communications by 2.3% during the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after buying an additional 50 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

About SBA Communications

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.