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

EngageSmart, Inc. (NYSE:ESMT) has received an average rating of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $24.38.

ESMT has been the topic of a number of recent analyst reports. Truist Financial lowered EngageSmart from a “buy” rating to a “hold” rating and cut their price objective for the stock from $30.00 to $23.00 in a research report on Friday, October 27th. KeyCorp reiterated a “sector weight” rating on shares of EngageSmart in a research report on Tuesday, October 24th. TheStreet upgraded EngageSmart from a “d+” rating to a “c” rating in a research report on Monday, October 23rd. Raymond James restated a “market perform” rating on shares of EngageSmart in a research report on Tuesday, October 24th. Finally, William Blair lowered EngageSmart from an “outperform” rating to a “market perform” rating in a research report on Monday, November 6th.

Insider Buying and Selling at EngageSmart

In other EngageSmart news, insider Kevin William O’brien sold 3,000 shares of EngageSmart stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $18.32, for a total transaction of $54,960.00. Following the completion of the transaction, the insider now owns 23,833 shares in the company, valued at $436,620.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 9,000 shares of company stock worth $176,430. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Brown Advisory Inc. raised its stake in shares of EngageSmart by 0.9% in the fourth quarter. Brown Advisory Inc. now owns 57,884 shares of the company’s stock worth $1,019,000 after purchasing an additional 500 shares during the last quarter. Royal Bank of Canada raised its stake in shares of EngageSmart by 0.3% in the third quarter. Royal Bank of Canada now owns 201,378 shares of the company’s stock worth $4,167,000 after purchasing an additional 545 shares during the last quarter. Amalgamated Bank raised its stake in shares of EngageSmart by 8.5% in the third quarter. Amalgamated Bank now owns 7,393 shares of the company’s stock worth $133,000 after purchasing an additional 577 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of EngageSmart by 7.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,282 shares of the company’s stock worth $217,000 after purchasing an additional 806 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY raised its stake in shares of EngageSmart by 43.4% in the second quarter. Metropolitan Life Insurance Co NY now owns 2,691 shares of the company’s stock worth $51,000 after purchasing an additional 815 shares during the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.

EngageSmart Stock Performance

Shares of ESMT stock opened at $22.80 on Friday. The firm has a market cap of $3.83 billion, a P/E ratio of 152.00, a P/E/G ratio of 3.83 and a beta of 0.33. EngageSmart has a fifty-two week low of $15.01 and a fifty-two week high of $23.10. The business’s 50 day moving average price is $20.47 and its 200-day moving average price is $18.82.

About EngageSmart

EngageSmart, Inc provides vertically-tailored customer engagement and integrated payments solutions. The company operates through Enterprise Solutions and SMB Solutions segments. The Enterprise Solutions segment offers SaaS solutions to customer-client engagement through electronic billing and digital payments.