Deutsche Bank AG reaffirmed their hold rating on shares of SBA Communications Corporation (NASDAQ:SBAC) in a research report report published on Friday morning. They currently have a $150.00 price target on the technology company’s stock, up from their prior price target of $133.00.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research upgraded SBA Communications Corporation from a hold rating to a strong-buy rating and set a $155.00 price objective for the company in a research report on Wednesday, July 5th. Raymond James Financial, Inc. restated an outperform rating on shares of SBA Communications Corporation in a research report on Monday, June 12th. Citigroup Inc. downgraded SBA Communications Corporation to an outperform rating and set a $153.00 price objective for the company. in a research report on Monday, June 12th. BidaskClub downgraded SBA Communications Corporation from a strong-buy rating to a buy rating in a research report on Friday, June 9th. Finally, Barclays PLC raised their price objective on SBA Communications Corporation from $136.00 to $137.00 and gave the stock an overweight rating in a research report on Wednesday, May 3rd. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. SBA Communications Corporation currently has a consensus rating of Buy and a consensus target price of $139.07.

SBA Communications Corporation (NASDAQ SBAC) traded down 0.36% during trading on Friday, hitting $136.00. The stock had a trading volume of 1,130,936 shares. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 282.16 and a beta of 0.73. The company has a 50-day moving average of $133.73 and a 200 day moving average of $118.45. SBA Communications Corporation has a 52 week low of $95.66 and a 52 week high of $140.38.

SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, May 1st. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $1.48. SBA Communications Corporation had a negative return on equity of 2.23% and a net margin of 3.69%. The company had revenue of $423.40 million during the quarter, compared to the consensus estimate of $418.21 million. During the same period last year, the company earned $1.45 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that SBA Communications Corporation will post $1.04 EPS for the current year.

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In related news, Director George R. Krouse, Jr. sold 187 shares of SBA Communications Corporation stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $138.43, for a total transaction of $25,886.41. Following the transaction, the director now owns 10,896 shares of the company’s stock, valued at $1,508,333.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack Langer sold 9,000 shares of SBA Communications Corporation stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $137.04, for a total value of $1,233,360.00. Following the transaction, the director now directly owns 2,280 shares in the company, valued at approximately $312,451.20. The disclosure for this sale can be found here. Insiders sold 171,028 shares of company stock valued at $22,956,475 in the last three months. Insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning boosted its position in shares of SBA Communications Corporation by 40.7% in the second quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after buying an additional 253 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of SBA Communications Corporation by 17.0% in the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock valued at $146,000 after buying an additional 177 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of SBA Communications Corporation by 25.7% in the first quarter. Toronto Dominion Bank now owns 1,358 shares of the technology company’s stock valued at $163,000 after buying an additional 278 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of SBA Communications Corporation by 14.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,676 shares of the technology company’s stock valued at $175,000 after buying an additional 211 shares during the last quarter. Finally, Kings Point Capital Management bought a new position in shares of SBA Communications Corporation during the first quarter valued at about $200,000. 96.22% of the stock is currently owned by institutional investors.

About SBA Communications Corporation

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

Analyst Recommendations for SBA Communications Corporation (NASDAQ:SBAC)

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