Barclays Has Lowered Expectations 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 target dropped by equities researchers at Barclays from $257.00 to $226.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Barclays's target price suggests a potential upside of 13.02% from the stock's previous close.

A number of other equities analysts have also commented on SBAC. Morgan Stanley raised their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price target on shares of SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. JMP Securities set a $280.00 price target on shares of SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Citigroup reaffirmed an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. Finally, Bank of America lowered shares of SBA Communications from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $260.00 to $230.00 in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and an average price target of $254.44.

SBA Communications Price Performance

Shares of SBAC opened at $199.97 on Monday. The firm has a market capitalization of $21.47 billion, a PE ratio of 25.41, a PEG ratio of 1.89 and a beta of 0.80. The company's 50-day moving average is $219.72 and its 200-day moving average is $224.16. SBA Communications has a fifty-two week low of $186.81 and a fifty-two week high of $252.64.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in SBA Communications during the 1st quarter worth approximately $28,000. CVA Family Office LLC increased its stake in shares of SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company's stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in SBA Communications in the 1st quarter valued at $33,000. Allworth Financial LP grew its position in SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after purchasing an additional 84 shares during the period. Institutional investors own 97.35% of the company's stock.

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.

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