Brokerages predict that SendGrid Inc (NYSE:SEND) will report sales of $36.04 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for SendGrid’s earnings, with the lowest sales estimate coming in at $35.96 million and the highest estimate coming in at $36.10 million. The business is scheduled to issue its next earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that SendGrid will report full year sales of $143.67 million for the current fiscal year, with estimates ranging from $143.45 million to $144.07 million. For the next fiscal year, analysts anticipate that the firm will report sales of $179.81 million, with estimates ranging from $176.40 million to $183.65 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow SendGrid.

SendGrid (NYSE:SEND) last issued its earnings results on Tuesday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. The firm had revenue of $35.68 million during the quarter, compared to analysts’ expectations of $34.32 million.

SEND has been the subject of a number of research reports. Zacks Investment Research upgraded shares of SendGrid from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Morgan Stanley upped their price target on shares of SendGrid from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. KeyCorp upped their price target on shares of SendGrid from $32.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, September 4th. Stifel Nicolaus upped their price target on shares of SendGrid from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, September 13th. Finally, First Analysis began coverage on shares of SendGrid in a research note on Monday, September 24th. They set a “strong-buy” rating and a $45.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $36.00.

In other news, insider Sameer Dholakia sold 16,666 shares of the stock in a transaction on Monday, October 8th. The shares were sold at an average price of $32.02, for a total value of $533,645.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Yanagawa Leandra Fishman sold 10,000 shares of the stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $35.58, for a total transaction of $355,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,239 shares of company stock worth $4,137,090. 30.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SEND. Wells Fargo & Company MN grew its holdings in shares of SendGrid by 207.7% in the second quarter. Wells Fargo & Company MN now owns 1,265,787 shares of the company’s stock worth $33,569,000 after purchasing an additional 854,472 shares during the last quarter. OppenheimerFunds Inc. bought a new position in SendGrid during the 2nd quarter worth about $15,842,000. Swiss National Bank bought a new position in SendGrid during the 2nd quarter worth about $801,000. FMR LLC grew its holdings in SendGrid by 172.6% during the 2nd quarter. FMR LLC now owns 957,240 shares of the company’s stock worth $25,386,000 after acquiring an additional 606,050 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new position in SendGrid during the 2nd quarter worth about $336,000. 57.91% of the stock is currently owned by institutional investors and hedge funds.

Shares of SEND traded down $2.44 during mid-day trading on Wednesday, hitting $32.24. 1,318,990 shares of the company traded hands, compared to its average volume of 1,706,850. The company has a quick ratio of 10.83, a current ratio of 10.83 and a debt-to-equity ratio of 0.05. SendGrid has a 1 year low of $17.50 and a 1 year high of $38.66. The stock has a market capitalization of $1.61 billion and a price-to-earnings ratio of -169.68.

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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