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

EngageSmart, Inc. (NYSE:ESMT – Get Rating) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $28.00.

Several equities research analysts recently issued reports on ESMT shares. TheStreet raised shares of EngageSmart from a “d” rating to a “c-” rating in a research report on Thursday, February 9th. The Goldman Sachs Group raised their target price on shares of EngageSmart from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. KeyCorp lifted their price target on shares of EngageSmart from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, February 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of EngageSmart from $26.00 to $23.00 and set a “hold” rating on the stock in a research report on Monday, January 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of EngageSmart in a research note on Monday, March 13th.

EngageSmart Trading Down 0.1 %

NYSE:ESMT opened at $18.85 on Tuesday. EngageSmart has a twelve month low of $15.01 and a twelve month high of $22.65. The company has a market capitalization of $3.13 billion, a P/E ratio of 157.10 and a beta of 0.52. The firm has a 50-day moving average price of $19.66 and a two-hundred day moving average price of $19.03.

EngageSmart (NYSE:ESMT – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). EngageSmart had a return on equity of 3.01% and a net margin of 6.78%. The firm had revenue of $83.90 million for the quarter, compared to analyst estimates of $81.79 million. During the same period in the prior year, the business earned $0.01 earnings per share. EngageSmart’s revenue for the quarter was up 36.2% on a year-over-year basis. On average, equities research analysts predict that EngageSmart will post 0.21 earnings per share for the current year.

Insider Activity

In other news, CEO Robert Paul Bennett sold 28,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $17.67, for a total transaction of $494,760.00. Following the completion of the transaction, the chief executive officer now owns 1,099,763 shares of the company’s stock, valued at $19,432,812.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Cassandra Hudson sold 75,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $19.00, for a total value of $1,425,000.00. Following the completion of the sale, the chief financial officer now owns 13,351 shares of the company’s stock, valued at $253,669. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Paul Bennett sold 28,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $17.67, for a total transaction of $494,760.00. Following the completion of the sale, the chief executive officer now owns 1,099,763 shares in the company, valued at $19,432,812.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,284,709 shares of company stock valued at $23,416,699. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EngageSmart

Several hedge funds and other institutional investors have recently bought and sold shares of ESMT. Macquarie Group Ltd. acquired a new stake in EngageSmart during the 3rd quarter worth about $25,881,000. BlackRock Inc. grew its stake in shares of EngageSmart by 27.4% in the 3rd quarter. BlackRock Inc. now owns 2,725,410 shares of the company’s stock valued at $56,389,000 after buying an additional 586,027 shares in the last quarter. Cat Rock Capital Management LP bought a new stake in shares of EngageSmart in the 3rd quarter valued at approximately $11,003,000. Vanguard Group Inc. grew its stake in shares of EngageSmart by 26.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,463,914 shares of the company’s stock valued at $50,979,000 after buying an additional 517,918 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of EngageSmart by 26,599.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 405,297 shares of the company’s stock valued at $7,133,000 after buying an additional 403,779 shares in the last quarter. 90.46% 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.