EngageSmart, Inc. (NYSE:ESMT) Short Interest Up 18.2% in July

EngageSmart, Inc. (NYSE:ESMTGet Rating) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 2,140,000 shares, a growth of 18.2% from the June 30th total of 1,810,000 shares. Approximately 13.2% of the shares of the stock are sold short. Based on an average daily volume of 524,100 shares, the short-interest ratio is currently 4.1 days.

EngageSmart Trading Up 0.2 %

NYSE:ESMT opened at $21.00 on Friday. EngageSmart has a 52-week low of $15.64 and a 52-week high of $38.83. The stock has a 50-day simple moving average of $18.33 and a 200 day simple moving average of $19.83.

EngageSmart (NYSE:ESMTGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $67.36 million during the quarter, compared to the consensus estimate of $61.86 million. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. As a group, analysts forecast that EngageSmart will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their price target on EngageSmart from $34.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, April 8th. KeyCorp cut their target price on EngageSmart from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.39.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Dragoneer Investment Group LLC grew its stake in EngageSmart by 30.7% in the first quarter. Dragoneer Investment Group LLC now owns 3,626,188 shares of the company’s stock valued at $77,274,000 after purchasing an additional 852,590 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of EngageSmart by 329.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,825,000 shares of the company’s stock worth $44,019,000 after acquiring an additional 1,400,000 shares during the period. Woodline Partners LP boosted its stake in shares of EngageSmart by 77.6% during the 1st quarter. Woodline Partners LP now owns 1,580,286 shares of the company’s stock worth $33,676,000 after acquiring an additional 690,254 shares during the period. Millennium Management LLC boosted its stake in shares of EngageSmart by 42.4% during the 4th quarter. Millennium Management LLC now owns 1,492,512 shares of the company’s stock worth $35,999,000 after acquiring an additional 444,714 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of EngageSmart during the 4th quarter worth approximately $9,519,000. 93.77% of the stock is currently owned by institutional investors.

EngageSmart Company Profile

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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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