SBA Communications (NASDAQ:SBAC) PT Set at $280.00 by JMP Securities

Key Points

• JMP Securities raised its price target for SBA Communications from $270.00 to $280.00, indicating a potential upside of 21.53% from the stock's previous close.
• The company's last quarterly earnings showed an EPS of $3.17, exceeding analyst expectations of $3.10, with revenue also surpassing estimates.
• Despite mixed ratings from analysts, the average target price for SBA Communications stands at $257.81, reflecting a consensus of a "Moderate Buy" rating.

SBA Communications (NASDAQ:SBAC - Get Free Report) received a $280.00 price objective from investment analysts at JMP Securities in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a "market outperform" rating on the technology company's stock. JMP Securities' target price would indicate a potential upside of 27.41% from the stock's previous close.

A number of other equities analysts have also weighed in on SBAC. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $268.00 price objective (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. UBS Group lifted their price objective on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Morgan Stanley raised their price target 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. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research report on Tuesday, May 20th. Finally, Scotiabank assumed coverage on SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $258.25.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $219.77 on Tuesday. The stock's 50-day simple moving average is $230.84 and its two-hundred day simple moving average is $223.05. The stock has a market capitalization of $23.61 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.82 and a beta of 0.77. SBA Communications has a 52-week low of $192.55 and a 52-week high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping 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 firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same period in the prior year, the business posted $3.29 EPS. SBA Communications's revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that SBA Communications will post 12.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SBAC. Vanguard Group Inc. grew its holdings in shares of SBA Communications by 1.5% during the first quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company's stock valued at $3,886,844,000 after buying an additional 268,018 shares during the last quarter. Dodge & Cox lifted its position in SBA Communications by 15.5% during the first quarter. Dodge & Cox now owns 8,485,264 shares of the technology company's stock valued at $1,866,843,000 after purchasing an additional 1,139,009 shares during the period. JPMorgan Chase & Co. boosted its holdings in SBA Communications by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock valued at $1,314,265,000 after purchasing an additional 1,715,541 shares during the last quarter. Deutsche Bank AG raised its stake in shares of SBA Communications by 5.9% during the 4th quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock valued at $491,549,000 after buying an additional 134,624 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in SBA Communications by 7.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company's stock valued at $439,310,000 after acquiring an additional 135,682 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

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.