SBA Comms (SBAC) Received its Third Buy in a Row


After Cowen & Co. and Jefferies gave SBA Comms (NASDAQ: SBAC) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Simon Flannery maintained a Buy rating on SBA Comms today and set a price target of $176. The company’s shares closed yesterday at $155.05.

According to TipRanks.com, Flannery is a 4-star analyst with an average return of 5.6% and a 69.4% success rate. Flannery covers the Technology sector, focusing on stocks such as Cincinnati Bell, Crown Castle, and Intelsat SA.

Currently, the analyst consensus on SBA Comms is a Strong Buy with an average price target of $183.33, representing a 18.2% upside. In a report issued on August 5, RBC Capital also reiterated a Buy rating on the stock with a $188 price target.

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Based on SBA Comms’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $57.39 million. In comparison, last year the company had a net profit of $9.23 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Kurt Bagwell, the EVP; Pres. – International of SBAC sold 126,605 shares for a total of $20,897,092.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.

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