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.
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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