SendGrid (NYSE:SEND) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, March 16th. The brokerage currently has a $35.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 39.66% from the stock’s current price.
According to Zacks, “SendGrid, Inc. provides digital communication platform which enable businesses to engage with their customers via email reliably, effectively and at scale. SendGrid, Inc. is based in DENVER, United States. “
SEND has been the subject of a number of other research reports. Stifel Nicolaus started coverage on SendGrid in a research report on Monday, December 11th. They issued a “buy” rating and a $25.00 price target for the company. KeyCorp reaffirmed an “overweight” rating and issued a $32.00 price target (up previously from $26.00) on shares of SendGrid in a research report on Monday, February 26th. Piper Jaffray started coverage on SendGrid in a research report on Monday, December 11th. They issued an “overweight” rating and a $25.00 price target for the company. Morgan Stanley boosted their price target on SendGrid from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Finally, William Blair initiated coverage on SendGrid in a research report on Monday, December 11th. They set an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. SendGrid presently has an average rating of “Buy” and an average target price of $29.60.
NYSE SEND traded up $0.52 on Friday, reaching $25.06. The stock had a trading volume of 4,409,895 shares, compared to its average volume of 284,299. The company has a debt-to-equity ratio of 0.06, a current ratio of 8.71 and a quick ratio of 8.71. SendGrid has a 1 year low of $17.50 and a 1 year high of $32.03. The company has a market capitalization of $1,047.89 and a P/E ratio of -131.89.
SendGrid (NYSE:SEND) last issued its earnings results on Monday, February 26th. The company reported ($0.01) EPS for the quarter. The business had revenue of $31.73 million during the quarter, compared to analysts’ expectations of $29.45 million. equities analysts anticipate that SendGrid will post -0.13 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pier Capital LLC acquired a new position in shares of SendGrid during the 4th quarter worth about $4,058,000. Zimmer Partners LP acquired a new position in shares of SendGrid during the 4th quarter worth about $1,534,000. TIAA CREF Investment Management LLC acquired a new position in shares of SendGrid during the 4th quarter worth about $313,000. Teachers Advisors LLC acquired a new position in shares of SendGrid during the 4th quarter worth about $349,000. Finally, Deer VIII & Co. Ltd. acquired a new position in shares of SendGrid during the 4th quarter worth about $171,217,000. 41.22% of the stock is owned by institutional investors and hedge funds.
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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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