SendGrid Inc (SEND) Given Average Recommendation of “Buy” by Brokerages

Shares of SendGrid Inc (NYSE:SEND) have earned a consensus rating of “Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $33.75.

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of SendGrid from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 13th. KeyCorp increased their price objective on shares of SendGrid from $32.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 4th. Zacks Investment Research downgraded shares of SendGrid from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. First Analysis assumed coverage on shares of SendGrid in a research report on Monday, September 24th. They set a “strong-buy” rating and a $45.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of SendGrid from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 1st.

In related news, SVP Craig Kaes sold 15,391 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $29.29, for a total value of $450,802.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen M. Sloan sold 15,000 shares of the firm’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $36.66, for a total transaction of $549,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,239 shares of company stock valued at $4,624,740. 30.20% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in SendGrid by 33.8% in the second quarter. BlackRock Inc. now owns 1,287,514 shares of the company’s stock valued at $34,143,000 after purchasing an additional 325,601 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of SendGrid by 207.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,265,787 shares of the company’s stock valued at $33,569,000 after acquiring an additional 854,472 shares during the period. FMR LLC grew its position in shares of SendGrid by 172.6% in the 2nd quarter. FMR LLC now owns 957,240 shares of the company’s stock valued at $25,386,000 after acquiring an additional 606,050 shares during the period. OppenheimerFunds Inc. bought a new position in shares of SendGrid in the 2nd quarter valued at about $15,842,000. Finally, Waddell & Reed Financial Inc. bought a new position in shares of SendGrid in the 2nd quarter valued at about $14,989,000. 58.02% of the stock is owned by institutional investors and hedge funds.

Shares of SEND stock opened at $36.32 on Thursday. The company has a quick ratio of 10.83, a current ratio of 10.83 and a debt-to-equity ratio of 0.05. SendGrid has a 12-month low of $17.50 and a 12-month high of $38.66. The firm has a market cap of $1.56 billion and a PE ratio of -191.16.

SendGrid (NYSE:SEND) last issued its quarterly earnings data on Tuesday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The company had revenue of $35.68 million for the quarter, compared to the consensus estimate of $34.32 million. On average, research analysts anticipate that SendGrid will post -0.04 EPS for the current fiscal year.

SendGrid Company Profile

SendGrid, Inc operates as a digital communication platform in the United States and internationally. Its cloud-based platform provides various tools to the businesses, including developers and marketers to reach their customers using an email. The company offers services, such as email application programming interface (API), which allow developers to use its API in their preferred development framework and to use its platform to add email functionality to their applications; marketing campaigns that allow marketers to upload and manage customer contact lists, create and test email templates, and execute and analyze email campaigns to engage customers; and expert services to help businesses optimize their email delivery.

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Analyst Recommendations for SendGrid (NYSE:SEND)

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