SBA Communications (NASDAQ:SBAC) Price Target Raised to $285.00

SBA Communications (NASDAQ:SBAC - Get Free Report) had its price objective hoisted by stock analysts at UBS Group from $280.00 to $285.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. UBS Group's target price suggests a potential upside of 21.67% from the company's previous close.

Several other research firms have also issued reports on SBAC. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a report on Tuesday, May 20th. Barclays boosted their price target on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target for the company. JMP Securities boosted their price target on shares of SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Tuesday, April 29th. Finally, 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 report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $255.53.

SBA Communications Trading Up 0.3%

Shares of NASDAQ:SBAC traded up $0.65 during midday trading on Tuesday, reaching $234.24. 650,112 shares of the company were exchanged, compared to its average volume of 879,326. The business's fifty day moving average is $232.38 and its two-hundred day moving average is $218.71. SBA Communications has a one year low of $190.91 and a one year high of $252.64. The stock has a market cap of $25.17 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.93 and a beta of 0.78.

Insider Buying and Selling

In other SBA Communications news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director directly owned 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

Institutional Trading of SBA Communications

Several institutional investors and hedge funds have recently bought and sold shares of SBAC. Dodge & Cox boosted its position in SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after purchasing an additional 5,722,740 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in SBA Communications by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company's stock worth $1,314,265,000 after buying an additional 1,715,541 shares in the last quarter. Norges Bank purchased a new stake in SBA Communications during the fourth quarter worth $268,287,000. Wealthfront Advisers LLC increased its holdings in SBA Communications by 23,553.0% in the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock valued at $229,648,000 after buying an additional 1,122,064 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its position in shares of SBA Communications by 27,449.9% in the fourth quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after acquiring an additional 987,647 shares during the period. 97.35% of the stock is currently 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.