Guggenheim set a $172.00 price target on SBA Communications (NASDAQ:SBAC) in a research report released on Wednesday. The brokerage currently has a buy rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. KeyCorp raised shares of SBA Communications from a sector weight rating to an overweight rating and set a $170.00 price target on the stock in a research report on Wednesday, September 27th. Royal Bank of Canada reaffirmed a buy rating and set a $200.00 price target on shares of SBA Communications in a research report on Thursday, November 30th. UBS Group initiated coverage on shares of SBA Communications in a research report on Wednesday, October 18th. They set a buy rating and a $176.00 price target on the stock. Zacks Investment Research raised shares of SBA Communications from a sell rating to a hold rating in a research report on Monday, October 16th. Finally, BidaskClub cut shares of SBA Communications from a sell rating to a strong sell rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. SBA Communications presently has an average rating of Buy and an average price target of $165.07.

Shares of SBA Communications (NASDAQ SBAC) traded up $4.14 during trading on Wednesday, hitting $165.79. 1,612,388 shares of the company traded hands, compared to its average volume of 704,730. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications has a one year low of $102.29 and a one year high of $173.97. The company has a market capitalization of $19,000.66, a PE ratio of 197.37 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.25 by $1.50. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The company had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. SBA Communications’s revenue for the quarter was up 5.5% on a year-over-year basis. equities research analysts anticipate that SBA Communications will post 0.97 EPS for the current year.

In other news, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its position in shares of SBA Communications by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after purchasing an additional 114 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of SBA Communications by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after purchasing an additional 120 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of SBA Communications by 9.5% during the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after purchasing an additional 129 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of SBA Communications by 2.6% during the 2nd quarter. Suntrust Banks Inc. now owns 6,751 shares of the technology company’s stock worth $910,000 after purchasing an additional 168 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of SBA Communications by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,497 shares of the technology company’s stock worth $607,000 after purchasing an additional 245 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

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About SBA Communications

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 (NASDAQ:SBAC)

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