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

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

A number of brokerages recently weighed in on ESMT. Truist Financial reduced their price objective on EngageSmart from $45.00 to $35.00 in a research report on Wednesday, February 16th. Deutsche Bank Aktiengesellschaft upped their price target on EngageSmart from $25.00 to $28.00 in a research report on Wednesday, February 16th. The Goldman Sachs Group cut their target price on EngageSmart from $34.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, April 8th. Citigroup increased their price target on EngageSmart from $28.00 to $30.50 in a report on Wednesday, February 16th. Finally, KeyCorp lowered their price objective on EngageSmart from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, March 16th.

Shares of EngageSmart stock opened at $20.92 on Friday. The business’s 50 day simple moving average is $20.61 and its 200 day simple moving average is $22.67. EngageSmart has a 52-week low of $16.76 and a 52-week high of $38.83.

EngageSmart (NYSE:ESMT – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $67.36 million during the quarter, compared to the consensus estimate of $61.86 million. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. Research analysts forecast that EngageSmart will post 0.1 earnings per share for the current year.

In related news, insider Jonathan Cole Seltzer sold 8,334 shares of the business’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $20.85, for a total transaction of $173,763.90. Following the transaction, the insider now owns 1,508 shares in the company, valued at approximately $31,441.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc bought a new stake in EngageSmart during the 4th quarter valued at approximately $38,000. Morgan Stanley bought a new stake in shares of EngageSmart in the 3rd quarter worth approximately $73,000. Strs Ohio bought a new position in shares of EngageSmart during the fourth quarter valued at $89,000. Citigroup Inc. purchased a new position in shares of EngageSmart in the 4th quarter worth about $100,000. Finally, Steward Partners Investment Advisory LLC bought a new position in EngageSmart in the 4th quarter worth about $107,000. 93.77% of the stock is currently owned by institutional investors and hedge funds.

EngageSmart Company Profile (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.

Featured Articles