First Analysis started coverage on shares of SendGrid (NYSE:SEND) in a research note published on Monday, Marketbeat.com reports. The brokerage issued a strong-buy rating and a $45.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their target price on shares of SendGrid from $32.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, September 13th. Zacks Investment Research raised shares of SendGrid from a hold rating to a buy rating and set a $32.00 target price for the company in a research note on Tuesday, August 7th. Morgan Stanley boosted their target price on shares of 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 boosted their target price on shares of 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, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $36.00.

SEND opened at $36.68 on Monday. SendGrid has a fifty-two week low of $17.50 and a fifty-two week high of $38.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 10.83 and a quick ratio of 10.83. The firm has a market capitalization of $1.73 billion and a price-to-earnings ratio of -193.05.

SendGrid (NYSE:SEND) last released its quarterly earnings data on Tuesday, July 31st. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates 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. equities analysts anticipate that SendGrid will post -0.04 EPS for the current year.

In other news, SVP Yanagawa Leandra Fishman sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $35.58, for a total transaction of $355,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sameer Dholakia sold 16,666 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $35.64, for a total transaction of $593,976.24. The disclosure for this sale can be found here. Insiders have sold 78,182 shares of company stock valued at $2,553,645 in the last three months. Corporate insiders own 30.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new stake in SendGrid during the 1st quarter valued at about $120,000. Barclays PLC grew its stake in SendGrid by 225.9% during the 1st quarter. Barclays PLC now owns 4,282 shares of the company’s stock valued at $121,000 after acquiring an additional 2,968 shares in the last quarter. Citigroup Inc. grew its stake in SendGrid by 387.2% during the 1st quarter. Citigroup Inc. now owns 4,550 shares of the company’s stock valued at $128,000 after acquiring an additional 3,616 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in SendGrid during the 2nd quarter valued at about $174,000. Finally, Rhumbline Advisers purchased a new stake in SendGrid during the 1st quarter valued at about $205,000. 57.90% of the stock is owned by institutional investors.

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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Analyst Recommendations for SendGrid (NYSE:SEND)

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