Zacks: Analysts Expect SendGrid (SEND) to Post $0.01 EPS

Wall Street brokerages predict that SendGrid (NYSE:SEND) will announce earnings of $0.01 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for SendGrid’s earnings. The lowest EPS estimate is $0.01 and the highest is $0.02. The business is scheduled to announce its next earnings report on Tuesday, August 7th.

On average, analysts expect that SendGrid will report full-year earnings of $0.11 per share for the current fiscal year, with EPS estimates ranging from $0.08 to $0.14. For the next fiscal year, analysts forecast that the business will post earnings of $0.16 per share, with EPS estimates ranging from $0.11 to $0.19. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow SendGrid.

SendGrid (NYSE:SEND) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.01) earnings per share 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 analyst reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $32.00 price target on shares of SendGrid in a report on Monday, April 23rd. KeyCorp reiterated 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. Zacks Investment Research upgraded SendGrid from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Friday, March 16th. Morgan Stanley boosted their price target on SendGrid from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, May 2nd. Finally, Canaccord Genuity initiated 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 analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.67.

In related news, major shareholder Group Select Fund L.P Foundry sold 2,952,718 shares of the business’s 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Craig Kaes sold 35,000 shares of the business’s 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. Insiders have sold a total of 3,355,949 shares of company stock valued at $76,716,994 in the last 90 days. Insiders own 30.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Deer VIII & Co. Ltd. acquired a new position in SendGrid during the 4th quarter worth $171,217,000. Keenan Capital LLC acquired a new position in SendGrid during the 4th quarter worth $16,779,000. BlackRock Inc. acquired a new position in SendGrid during the 4th quarter worth $16,723,000. Clearbridge Investments LLC acquired a new position in SendGrid during the 4th quarter worth $10,979,000. Finally, Wells Fargo & Company MN acquired a new position in SendGrid during the 4th quarter worth $9,128,000. Institutional investors and hedge funds own 40.07% of the company’s stock.

Shares of SendGrid traded up $0.31, reaching $26.39, during trading on Friday, according to MarketBeat Ratings. The stock had a trading volume of 470,581 shares, compared to its average volume of 421,129. SendGrid has a one year low of $17.50 and a one year high of $32.03. The company has a current ratio of 10.16, a quick ratio of 10.16 and a debt-to-equity ratio of 0.06.

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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Earnings History and Estimates for SendGrid (NYSE:SEND)

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