SendGrid stock price target raised to $42 from $32 at KeyBanc Capital
SendGrid stock price target raised to $42 from $32 at KeyBanc Capital
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SendGrid stock price target raised to $42 from $32 at KeyBanc Capital
SendGrid Inc. shares rallied in the extended session Tuesday after the cloud-based marketing email delivery company's earnings and outlook topped Wall Street estimates. SendGrid shares surged 7.7% after hours. The company reported a second-quarter loss of $310,000, or a penny a share, compared with a loss of $1.3 million, or 17 cents a share, in the year-ago period. Adjusted earnings were 5 cents a share. Revenue rose to $35.7 million from $27 million in the year-ago period. Analysts surveyed by FactSet had estimated a penny a share on revenue of $34.4 million. SendGrid estimates revenue of $35.9 million to $36.1 million for the third quarter, and $142.5 million to $144 million for the year. Analysts expect revenue of $35.3 million for the third quarter and $141.7 million for the year. SendGrid shares closed Tuesday up 6.5% for the year at $25.53, or 60% above their November IPO price.
In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Sendgrid ...[...]
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SendGrid, Inc. provides customer communications platform for transactional and marketing email. The firm's solutions include sendgrid API, expert services and sendgrid & email marketing campaigns. The company was founded by Isaac Saldana, Tim Jenkins, and Jose Lopez in 2009 and is headquartered in Denver, CO. (See Full Profile)
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