SBA Communications (NASDAQ:SBAC) Earns Neutral Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of SBA Communications (NASDAQ:SBACGet Free Report) in a report released on Monday, Benzinga reports. The firm set a “neutral” rating and a $212.00 price target on the technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 11.20% from the stock’s current price.

Other analysts also recently issued reports about the stock. TD Cowen dropped their target price on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. KeyCorp cut their price objective on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, March 7th. Finally, Wells Fargo & Company dropped their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $249.08.

Read Our Latest Analysis on SBAC

SBA Communications Stock Down 2.9 %

SBA Communications stock traded down $5.66 during trading hours on Monday, hitting $190.64. 391,478 shares of the company traded hands, compared to its average volume of 952,308. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76. The firm has a market cap of $20.48 billion, a P/E ratio of 37.46, a P/E/G ratio of 0.62 and a beta of 0.65. The firm’s 50-day simple moving average is $194.93 and its two-hundred day simple moving average is $213.64.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 EPS. On average, equities research analysts predict that SBA Communications will post 12.51 earnings per share for the current 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 business. Clear Rock Advisors LLC grew its stake in shares of SBA Communications by 6.0% in the first quarter. Clear Rock Advisors LLC now owns 7,944 shares of the technology company’s stock worth $1,721,000 after acquiring an additional 453 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in SBA Communications by 2.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 23,266 shares of the technology company’s stock worth $5,015,000 after buying an additional 453 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of SBA Communications by 41.8% during the 1st quarter. Cetera Advisors LLC now owns 1,670 shares of the technology company’s stock worth $362,000 after acquiring an additional 492 shares during the period. Cetera Investment Advisers boosted its position in shares of SBA Communications by 228.1% during the 1st quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock valued at $2,252,000 after acquiring an additional 7,226 shares in the last quarter. Finally, Swedbank AB bought a new stake in SBA Communications in the first quarter valued at about $17,143,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

(Get Free Report)

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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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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