First Analysis cut shares of SendGrid (NYSE:SEND) from a strong-buy rating to an outperform rating in a research note published on Tuesday, MarketBeat Ratings reports.

Several other brokerages have also recently issued reports on SEND. 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 report on Thursday, September 13th. 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 report on Tuesday, September 4th. Zacks Investment Research cut shares of SendGrid from a buy rating to a hold rating in a research report on Friday, September 7th. Finally, 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 report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. SendGrid presently has a consensus rating of Buy and a consensus target price of $36.00.

SEND stock opened at $32.24 on Tuesday. SendGrid has a 1 year low of $17.50 and a 1 year high of $38.66. 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 (NYSE:SEND) last released its quarterly earnings data on Tuesday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $35.68 million for the quarter, compared to analyst estimates of $34.32 million. On average, equities research analysts expect that SendGrid will post -0.04 EPS for the current year.

In other news, SVP Craig Kaes sold 15,391 shares of the company’s stock in a transaction on Monday, October 8th. The shares were sold at an average price of $32.48, for a total value of $499,899.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sameer Dholakia sold 16,666 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $29.64, for a total transaction of $493,980.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,239 shares of company stock worth $4,137,090. Insiders own 30.20% of the company’s stock.

Large investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new stake in shares of SendGrid in the 1st quarter valued at $120,000. Barclays PLC boosted its stake in shares of SendGrid by 225.9% in the 1st quarter. Barclays PLC now owns 4,282 shares of the company’s stock valued at $121,000 after purchasing an additional 2,968 shares during the last quarter. Citigroup Inc. boosted its stake in shares of SendGrid by 387.2% in the 1st quarter. Citigroup Inc. now owns 4,550 shares of the company’s stock valued at $128,000 after purchasing an additional 3,616 shares during the last quarter. Atria Investments LLC bought a new stake in shares of SendGrid in the 3rd quarter valued at $231,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of SendGrid in the 2nd quarter valued at $174,000. 57.91% of the stock is currently 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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