Barclays Issues Pessimistic Forecast for SBA Communications (NASDAQ:SBAC) Stock Price

SBA Communications (NASDAQ:SBAC) had its target price lowered by stock analysts at Barclays from $226.00 to $219.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 11.58% from the stock’s current price.

SBAC has been the subject of several other reports. UBS Group decreased their price objective on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. The Goldman Sachs Group decreased their price target on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Williams Trading set a $237.00 price objective on SBA Communications in a research note on Tuesday, November 4th. Citigroup decreased their target price on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.06.

SBA Communications Stock Performance

Shares of SBAC traded down $0.94 during mid-day trading on Monday, reaching $196.28. 78,211 shares of the company were exchanged, compared to its average volume of 959,778. The business has a 50 day simple moving average of $195.00 and a two-hundred day simple moving average of $215.94. The stock has a market capitalization of $20.91 billion, a PE ratio of 24.94, a PEG ratio of 2.01 and a beta of 0.80. SBA Communications has a 52 week low of $185.45 and a 52 week high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. During the same quarter in the prior year, the firm posted $3.32 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, analysts predict that SBA Communications will post 12.57 EPS for the current year.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC grew its stake in shares of SBA Communications by 3.0% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after acquiring an additional 44 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in SBA Communications by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after purchasing an additional 46 shares during the last quarter. Advisors Asset Management Inc. grew its position in SBA Communications by 5.6% in the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock worth $194,000 after purchasing an additional 47 shares in the last quarter. Farther Finance Advisors LLC increased its stake in SBA Communications by 20.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after buying an additional 50 shares during the last quarter. Finally, MAI Capital Management increased its stake in SBA Communications by 7.9% in the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock valued at $160,000 after buying an additional 50 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.