SBA Communications (NASDAQ:SBAC) Price Target Raised to $270.00 at JMP Securities

SBA Communications (NASDAQ:SBAC - Get Free Report) had its price target lifted by stock analysts at JMP Securities from $250.00 to $270.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the technology company's stock. JMP Securities' price target would indicate a potential upside of 13.21% from the company's current price.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Barclays raised their price objective on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday. Raymond James reissued a "strong-buy" rating and set a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $252.38.

SBA Communications Stock Up 6.8 %

SBAC traded up $15.22 during trading hours on Tuesday, reaching $238.50. 912,501 shares of the company's stock traded hands, compared to its average volume of 906,381. The firm has a 50-day moving average price of $219.45 and a 200 day moving average price of $216.36. The firm has a market capitalization of $25.67 billion, a PE ratio of 37.64, a PEG ratio of 0.74 and a beta of 0.83. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is owned by insiders.

Institutional Trading of SBA Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Oak Thistle LLC lifted its holdings in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after purchasing an additional 2,863 shares during the period. Czech National Bank lifted its stake in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after acquiring an additional 1,421 shares during the period. First Hawaiian Bank boosted its holdings in shares of SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock valued at $2,522,000 after acquiring an additional 5,897 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock worth $266,675,000 after acquiring an additional 38,725 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of SBA Communications by 49.3% in the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock worth $141,205,000 after acquiring an additional 226,878 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

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.

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