SendGrid Inc (SEND) Given Consensus Recommendation of “Buy” by Brokerages

SendGrid Inc (NYSE:SEND) has earned an average rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $28.25.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of SendGrid from a “buy” rating to a “hold” rating in a research note on Saturday, March 17th. Morgan Stanley raised their target price on shares of SendGrid from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Stifel Nicolaus raised their target price on shares of SendGrid from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. KeyCorp reissued an “overweight” rating and issued a $32.00 target price (up from $26.00) on shares of SendGrid in a research note on Monday, February 26th. Finally, William Blair assumed coverage on shares of SendGrid in a research note on Monday, December 11th. They issued an “outperform” rating for the company.

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Hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. bought a new position in SendGrid during the fourth quarter worth $134,000. The Manufacturers Life Insurance Company bought a new position in SendGrid during the fourth quarter worth $153,000. Virtu Financial LLC bought a new position in SendGrid during the fourth quarter worth $297,000. California State Teachers Retirement System bought a new position in SendGrid during the fourth quarter worth $313,000. Finally, TIAA CREF Investment Management LLC bought a new position in SendGrid during the fourth quarter worth $313,000. 41.22% of the stock is owned by hedge funds and other institutional investors.

Shares of SEND stock traded up $0.65 on Wednesday, hitting $30.29. 80,224 shares of the stock traded hands, compared to its average volume of 235,362. SendGrid has a one year low of $17.50 and a one year high of $32.03. 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 (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 for the quarter, compared to the consensus estimate of $29.45 million. sell-side analysts expect that SendGrid will post -0.13 EPS for the current fiscal year.

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About SendGrid

SendGrid, Inc provides a digital communication platform. The Company’s platform enables businesses to engage with their customers through email. It offers three services: Email application programming interface (API), marketing campaigns and Expert services. Its email API service allows developers to use its API in their preferred development framework to leverage its platform to add email functionality to their applications.

Analyst Recommendations for SendGrid (NYSE:SEND)

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