Stock analysts at UBS AG began coverage on shares of SBA Communications Corporation (NASDAQ:SBAC) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $176.00 price target on the technology company’s stock. UBS AG’s price objective would suggest a potential upside of 18.92% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Cowen and Company restated a “buy” rating and set a $147.00 target price on shares of SBA Communications Corporation in a research report on Tuesday. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “sell” rating to a “hold” rating in a research report on Monday. KeyCorp upgraded shares of SBA Communications Corporation from a “sector weight” rating to an “overweight” rating and set a $170.00 target price on the stock in a research report on Wednesday, September 27th. Citigroup Inc. upped their target price on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, August 28th. Finally, Morgan Stanley restated an “overweight” rating and set a $159.00 target price (up from $147.00) on shares of SBA Communications Corporation in a research report on Thursday, August 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $149.67.

SBA Communications Corporation (NASDAQ SBAC) traded down 0.07% during mid-day trading on Wednesday, hitting $147.89. 559,761 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $147.71 and a 200 day moving average of $137.34. The stock has a market capitalization of $17.80 billion, a P/E ratio of 508.21 and a beta of 0.69. SBA Communications Corporation has a 52 week low of $95.66 and a 52 week high of $154.71.

SBA Communications Corporation (NASDAQ:SBAC) last released its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The business had revenue of $427.30 million for the quarter, compared to analyst estimates of $426.10 million. During the same quarter in the previous year, the company posted $1.48 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts forecast that SBA Communications Corporation will post $0.96 earnings per share for the current fiscal year.

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In related news, SVP Brian D. Lazarus sold 7,376 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the completion of the sale, the senior vice president now directly owns 17,525 shares of the company’s stock, valued at approximately $2,660,119.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 9,655 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $140.74, for a total value of $1,358,844.70. Following the sale, the executive vice president now directly owns 21,403 shares of the company’s stock, valued at $3,012,258.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,674 shares of company stock valued at $2,706,217. 2.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SBAC. OppenheimerFunds Inc. bought a new stake in SBA Communications Corporation during the 1st quarter worth approximately $5,310,000. Teachers Advisors LLC increased its stake in SBA Communications Corporation by 18.4% during the 1st quarter. Teachers Advisors LLC now owns 150,834 shares of the technology company’s stock worth $18,156,000 after purchasing an additional 23,444 shares in the last quarter. Global X Management Co. LLC increased its stake in SBA Communications Corporation by 3.9% during the 1st quarter. Global X Management Co. LLC now owns 1,856 shares of the technology company’s stock worth $223,000 after purchasing an additional 69 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in SBA Communications Corporation by 8.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 257,200 shares of the technology company’s stock worth $30,960,000 after purchasing an additional 19,369 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC increased its stake in SBA Communications Corporation by 20.0% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 9,000 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 1,500 shares in the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

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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