Equities research analysts expect that SendGrid (NYSE:SEND) will post sales of $34.32 million for the current quarter, Zacks reports. Five analysts have provided estimates for SendGrid’s earnings, with the highest sales estimate coming in at $34.40 million and the lowest estimate coming in at $34.22 million. The firm is expected to report its next quarterly earnings report on Tuesday, August 7th.
On average, analysts expect that SendGrid will report full year sales of $141.55 million for the current year, with estimates ranging from $141.12 million to $142.40 million. For the next fiscal year, analysts expect that the company will report sales of $175.92 million per share, with estimates ranging from $172.70 million to $177.17 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for SendGrid.
SendGrid (NYSE:SEND) last issued its earnings results on Monday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $31.73 million during the quarter, compared to analyst estimates of $29.45 million.
SEND has been the subject of a number of research reports. Piper Jaffray reiterated a “buy” rating and set a $32.00 target price on shares of SendGrid in a report on Monday, April 23rd. KeyCorp reiterated an “overweight” rating and set a $32.00 target price (up previously from $26.00) on shares of SendGrid in a report on Monday, February 26th. Zacks Investment Research upgraded SendGrid from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Friday, March 16th. Morgan Stanley boosted their target price on SendGrid from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 2nd. Finally, Canaccord Genuity started coverage on SendGrid in a report on Wednesday, April 25th. They issued a “buy” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.67.
Shares of NYSE:SEND opened at $26.20 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.16 and a quick ratio of 10.16. SendGrid has a 1 year low of $25.67 and a 1 year high of $26.70. The stock has a market cap of $1.22 billion and a PE ratio of -137.89.
In other news, major shareholder Group Select Fund L.P Foundry sold 2,952,718 shares of the stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $22.86, for a total transaction of $67,499,133.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Craig Kaes sold 35,000 shares of the stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $22.86, for a total value of $800,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,355,949 shares of company stock valued at $76,716,994. 30.20% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Deer VIII & Co. Ltd. purchased a new position in shares of SendGrid during the 4th quarter valued at approximately $171,217,000. BlackRock Inc. boosted its stake in shares of SendGrid by 37.9% during the 1st quarter. BlackRock Inc. now owns 961,913 shares of the company’s stock valued at $27,069,000 after buying an additional 264,265 shares during the last quarter. Keenan Capital LLC purchased a new position in shares of SendGrid during the 4th quarter valued at approximately $16,779,000. Clearbridge Investments LLC purchased a new position in shares of SendGrid during the 4th quarter valued at approximately $10,979,000. Finally, Wells Fargo & Company MN boosted its stake in shares of SendGrid by 8.0% during the 1st quarter. Wells Fargo & Company MN now owns 411,315 shares of the company’s stock valued at $11,575,000 after buying an additional 30,495 shares during the last quarter. Institutional investors own 40.07% of the company’s stock.
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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