Zacks Investment Research Lowers SendGrid (NYSE:SEND) to Hold

SendGrid (NYSE:SEND) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday, March 17th.

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. “

How to Become a New Pot Stock Millionaire

Several other equities research analysts also recently issued reports on the company. Morgan Stanley increased their price target on SendGrid from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Stifel Nicolaus increased their price target on SendGrid from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. KeyCorp restated an “overweight” rating and issued a $32.00 price target (up from $26.00) on shares of SendGrid in a report on Monday, February 26th. William Blair assumed coverage on SendGrid in a report on Monday, December 11th. They set an “outperform” rating for the company. Finally, Piper Jaffray assumed coverage on SendGrid in a report on Monday, December 11th. They set an “overweight” rating and a $25.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $29.60.

Shares of SEND traded up $0.52 during trading hours on Friday, hitting $25.06. 4,409,895 shares of the stock traded hands, compared to its average volume of 284,299. The firm has a market capitalization of $1,070.09 and a PE ratio of -131.89. The company has a quick ratio of 8.71, a current ratio of 8.71 and a debt-to-equity ratio of 0.06. SendGrid has a 1-year low of $17.50 and a 1-year high of $32.03.

SendGrid (NYSE:SEND) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.01) EPS for the quarter. The company had revenue of $31.73 million during the quarter, compared to analyst estimates of $29.45 million. analysts anticipate that SendGrid will post -0.13 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. acquired a new stake in shares of SendGrid in the fourth quarter valued at approximately $134,000. The Manufacturers Life Insurance Company acquired a new stake in SendGrid during the 4th quarter worth approximately $153,000. Virtu Financial LLC acquired a new stake in SendGrid during the 4th quarter worth approximately $297,000. TIAA CREF Investment Management LLC acquired a new stake in SendGrid during the 4th quarter worth approximately $313,000. Finally, California State Teachers Retirement System acquired a new stake in SendGrid during the 4th quarter worth approximately $313,000. 41.22% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2018/04/08/sendgrid-send-downgraded-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on SendGrid (SEND)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for SendGrid (NYSE:SEND)

Receive News & Ratings for SendGrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SendGrid and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply