EngageSmart, Inc. (NYSE:ESMT) Given Consensus Rating of “Buy” by Analysts

Shares of EngageSmart, Inc. (NYSE:ESMT – Get Rating) have been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $31.94.

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price target on shares of EngageSmart from $45.00 to $35.00 in a report on Wednesday, February 16th. KeyCorp lowered their price target on shares of EngageSmart from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 16th. Citigroup lifted their price target on shares of EngageSmart from $28.00 to $30.50 in a report on Wednesday, February 16th. Raymond James lifted their price target on shares of EngageSmart from $34.00 to $35.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 16th. Finally, The Goldman Sachs Group lowered their price target on shares of EngageSmart from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, April 8th.

Shares of EngageSmart stock traded down $0.26 during mid-day trading on Monday, hitting $21.58. 275,678 shares of the stock were exchanged, compared to its average volume of 418,867. EngageSmart has a 12 month low of $16.76 and a 12 month high of $38.83. The firm’s 50-day moving average is $20.82.

EngageSmart (NYSE:ESMT – Get Rating) last posted its earnings results on Tuesday, February 15th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The business had revenue of $61.62 million for the quarter, compared to analysts’ expectations of $57.94 million. As a group, sell-side analysts expect that EngageSmart will post 0.1 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC purchased a new position in shares of EngageSmart during the 3rd quarter valued at $5,286,000. BlackRock Inc. purchased a new stake in EngageSmart during the third quarter valued at about $43,808,000. Monashee Investment Management LLC bought a new stake in EngageSmart during the third quarter worth about $2,044,000. Untitled Investments LP purchased a new position in shares of EngageSmart in the 3rd quarter worth about $4,768,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of EngageSmart during the 3rd quarter valued at about $1,363,000. Hedge funds and other institutional investors own 86.46% of the company’s stock.

About EngageSmart (Get Rating)

EngageSmart, Inc provides Software-as-a-Service based customer engagement software and integrated payment solutions. It operates through two segments, Enterprise Solutions and SMB (small and medium sized business) Solutions. The company offers SimplePractice, an end-to-end practice management and electronic health record platform for health and wellness professionals to manage their practices; and InvoiceCloud, an electronic bill presentment and payment solution that helps government, utility, and financial services customers to digitize billing, client communications, and collections.

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