SBA Communications (NASDAQ:SBAC) Shares Gap Up – Should You Buy?

Shares of SBA Communications Co. (NASDAQ:SBAC) gapped up prior to trading on Monday . The stock had previously closed at $196.83, but opened at $205.40. SBA Communications shares last traded at $205.49, with a volume of 223,400 shares trading hands.

Analyst Ratings Changes

Several research firms have weighed in on SBAC. Raymond James raised their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. TD Cowen boosted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. KeyCorp raised their price target on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company cut their price objective on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $252.29.

SBA Communications Stock Performance

The firm has a fifty day moving average of $209.11 and a 200-day moving average of $221.82. The stock has a market capitalization of $21.68 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.34 EPS. On average, analysts predict that SBA Communications Co. will post 12.57 EPS for the current year.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new stake in SBA Communications in the third quarter valued at $26,000. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications in the 4th quarter worth about $27,000. Capital Performance Advisors LLP bought a new stake in SBA Communications in the 3rd quarter valued at about $35,000. Oakworth Capital Inc. boosted its stake in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the period. Finally, Friedenthal Financial bought a new position in SBA Communications in the 3rd quarter worth about $50,000. 97.35% of the stock is currently owned by 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.