EngageSmart, Inc. (NYSE:ESMT) Expected to Post Quarterly Sales of $68.08 Million

Equities research analysts predict that EngageSmart, Inc. (NYSE:ESMT – Get Rating) will post sales of $68.08 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for EngageSmart’s earnings, with estimates ranging from $65.50 million to $70.90 million. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that EngageSmart will report full year sales of $282.80 million for the current year, with estimates ranging from $282.00 million to $283.80 million. For the next year, analysts anticipate that the business will post sales of $366.32 million, with estimates ranging from $350.00 million to $374.58 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for EngageSmart.

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

Several equities analysts have recently commented on ESMT shares. Truist Financial reduced their price target on shares of EngageSmart from $45.00 to $35.00 in a research report on Wednesday, February 16th. Deutsche Bank Aktiengesellschaft raised their target price on EngageSmart from $25.00 to $28.00 in a research report on Wednesday, February 16th. KeyCorp lowered their target price on EngageSmart from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 16th. Citigroup raised their target price on EngageSmart from $28.00 to $30.50 in a research report on Wednesday, February 16th. Finally, Raymond James increased their price target on EngageSmart from $34.00 to $35.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 16th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $31.94.

NYSE:ESMT opened at $20.74 on Monday. The firm has a 50-day moving average price of $20.58. EngageSmart has a 1-year low of $16.76 and a 1-year high of $38.83.

In other EngageSmart news, insider Jonathan Cole Seltzer sold 8,334 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $20.88, for a total value of $174,013.92. Following the sale, the insider now directly owns 1,508 shares in the company, valued at $31,487.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. General Atlantic L.P. acquired a new stake in shares of EngageSmart during the third quarter worth about $3,310,953,000. Dragoneer Investment Group LLC grew its holdings in shares of EngageSmart by 32.1% during the fourth quarter. Dragoneer Investment Group LLC now owns 2,773,598 shares of the company’s stock worth $66,899,000 after buying an additional 673,598 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of EngageSmart by 329.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,825,000 shares of the company’s stock worth $44,019,000 after buying an additional 1,400,000 shares in the last quarter. BlackRock Inc. grew its stake in EngageSmart by 19.4% in the fourth quarter. BlackRock Inc. now owns 1,535,798 shares of the company’s stock valued at $37,044,000 after purchasing an additional 249,544 shares in the last quarter. Finally, Millennium Management LLC grew its stake in EngageSmart by 42.4% in the fourth quarter. Millennium Management LLC now owns 1,492,512 shares of the company’s stock valued at $35,999,000 after purchasing an additional 444,714 shares in the last quarter. Institutional investors and hedge funds own 93.77% of the company’s stock.

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.

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