Brokerages Expect SendGrid Inc (SEND) Will Post Earnings of $0.05 Per Share

Equities analysts forecast that SendGrid Inc (NYSE:SEND) will announce earnings of $0.05 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for SendGrid’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.06. SendGrid posted earnings of $0.13 per share during the same quarter last year, which indicates a negative year over year growth rate of 61.5%. The business is expected to announce its next quarterly earnings report on Monday, February 25th.

According to Zacks, analysts expect that SendGrid will report full year earnings of $0.16 per share for the current financial year, with EPS estimates ranging from $0.15 to $0.17. For the next year, analysts anticipate that the company will post earnings of $0.21 per share, with EPS estimates ranging from $0.16 to $0.26. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover SendGrid.

SendGrid (NYSE:SEND) last released its quarterly earnings results on Tuesday, November 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. SendGrid had a negative return on equity of 0.86% and a negative net margin of 4.03%. The business had revenue of $37.20 million during the quarter, compared to analyst estimates of $36.04 million.

Several research analysts have recently commented on SEND shares. Zacks Investment Research lowered SendGrid from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Stifel Nicolaus lowered SendGrid from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. KeyCorp lifted their target price on SendGrid from $32.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, September 4th. Finally, First Analysis lowered SendGrid from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. SendGrid presently has a consensus rating of “Buy” and a consensus target price of $36.00.

In related news, CFO Yancey L. Spruill sold 50,000 shares of SendGrid stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $41.41, for a total value of $2,070,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen M. Sloan sold 15,000 shares of SendGrid stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $41.34, for a total value of $620,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,114 shares of company stock valued at $5,871,893. 30.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of SEND. Millennium Management LLC acquired a new stake in SendGrid in the first quarter valued at $1,043,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in SendGrid in the second quarter valued at $629,000. Wells Fargo & Company MN raised its stake in SendGrid by 207.7% in the second quarter. Wells Fargo & Company MN now owns 1,265,787 shares of the company’s stock valued at $33,569,000 after buying an additional 854,472 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in SendGrid in the second quarter valued at $5,228,000. Finally, Frontier Capital Management Co. LLC acquired a new stake in SendGrid in the second quarter valued at $5,758,000. Institutional investors own 84.45% of the company’s stock.

Shares of SEND traded down $3.42 during midday trading on Friday, hitting $42.97. 586,450 shares of the stock were exchanged, compared to its average volume of 687,520. SendGrid has a 52-week low of $18.61 and a 52-week high of $47.72. The firm has a market cap of $2.03 billion and a P/E ratio of -226.16. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.05.

About SendGrid

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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