Wall Street analysts predict that SendGrid Inc (NYSE:SEND) will post $0.03 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have made estimates for SendGrid’s earnings. The business is scheduled to issue its next earnings results on Tuesday, October 30th.
On average, analysts expect that SendGrid will report full-year earnings of $0.16 per share for the current year, with EPS estimates ranging from $0.15 to $0.17. For the next financial year, analysts expect that the business will post earnings of $0.19 per share, with EPS estimates ranging from $0.16 to $0.24. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for SendGrid.
SendGrid (NYSE:SEND) last issued its quarterly earnings results on Tuesday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $35.68 million during the quarter, compared to analyst estimates of $34.32 million.
A number of analysts have issued reports on SEND shares. Zacks Investment Research raised SendGrid from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, August 7th. Morgan Stanley raised their price target on SendGrid from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 1st. Finally, KeyCorp raised their price target on SendGrid from $32.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 4th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. SendGrid presently has an average rating of “Buy” and a consensus target price of $33.17.
Shares of NYSE:SEND opened at $37.26 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 10.83 and a quick ratio of 10.83. SendGrid has a 12-month low of $17.50 and a 12-month high of $38.66.
In other news, insider Sameer Dholakia sold 16,666 shares of SendGrid stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $35.64, for a total value of $593,976.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Craig Kaes sold 15,391 shares of SendGrid stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $29.29, for a total value of $450,802.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,182 shares of company stock worth $2,553,645. 30.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEND. Deutsche Bank AG acquired a new position in shares of SendGrid in the 4th quarter valued at about $435,000. Wells Fargo & Company MN lifted its stake in shares of SendGrid by 8.0% in the 1st quarter. Wells Fargo & Company MN now owns 411,315 shares of the company’s stock valued at $11,575,000 after purchasing an additional 30,495 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of SendGrid in the 1st quarter valued at about $205,000. Victory Capital Management Inc. acquired a new position in shares of SendGrid in the 1st quarter valued at about $2,203,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of SendGrid by 153.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 33,470 shares of the company’s stock valued at $942,000 after purchasing an additional 20,270 shares in the last quarter. 57.90% of the stock is currently owned by institutional investors and hedge funds.
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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