Sorta...
Coffee grounds are high acidic and may throw off the PH in your soil. However most people have water PH of about 8 so a little acid may help.
I don't think it is a good Idea to do a lot of it. For sure I give you Kudos for trying an organic method! +1
I think compost tea will give you better results and be much more beneficial to your plants. One thing that I do with coffee grounds is make Fly traps out of bottles and fill them with coffee.
The bugs like the smell and will go to them but the coffee will kill them. Coffee does great in a compost pile or as a food for a worm bin. Not one filter of coffee goes in the trash at my house.
I like to use the Brown Coffee filters as they are the same price, do the same thing, but are Biodegradable and make a good carbon source for compost.