EngageSmart (NYSE:ESMT – Get Rating) had its price target cut by equities researchers at Deutsche Bank Aktiengesellschaft from $24.00 to $21.00 in a research note issued on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 32.49% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group dropped their price objective on shares of EngageSmart from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, April 13th. Truist Financial cut their price target on shares of EngageSmart from $35.00 to $30.00 in a report on Friday. Citigroup reduced their price objective on EngageSmart from $26.00 to $20.00 in a research note on Friday. KeyCorp increased their target price on EngageSmart from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, February 10th. Finally, TheStreet lowered EngageSmart from a “c-” rating to a “d” rating in a research note on Monday, March 27th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EngageSmart has a consensus rating of “Buy” and an average target price of $25.88.
EngageSmart Stock Down 1.9 %
Shares of ESMT traded down $0.31 on Friday, reaching $15.85. The stock had a trading volume of 107,858 shares, compared to its average volume of 506,954. EngageSmart has a twelve month low of $15.01 and a twelve month high of $22.65. The firm has a market capitalization of $2.63 billion, a PE ratio of 133.59 and a beta of 0.45. The firm has a 50-day moving average of $18.26 and a 200 day moving average of $18.44.
EngageSmart (NYSE:ESMT – Get Rating) last announced 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 net margin of 6.78% and a return on equity of 3.01%. The business had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.79 million. During the same period last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 36.2% on a year-over-year basis. On average, sell-side analysts anticipate that EngageSmart will post 0.21 earnings per share for the current fiscal year.
Insider Activity
In other EngageSmart news, Director Diego A. Rodriguez sold 3,703 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $18.65, for a total value of $69,060.95. Following the completion of the sale, the director now directly owns 3,853 shares of the company’s stock, valued at approximately $71,858.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Diego A. Rodriguez sold 3,703 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $18.65, for a total transaction of $69,060.95. Following the completion of the sale, the director now directly owns 3,853 shares of the company’s stock, valued at approximately $71,858.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Paul Bennett sold 14,000 shares of the firm’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $17.25, for a total value of $241,500.00. Following the sale, the chief executive officer now directly owns 838,925 shares of the company’s stock, valued at $14,471,456.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,284,409 shares of company stock valued at $23,422,353. Company insiders own 2.70% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Senator Investment Group LP raised its holdings in shares of EngageSmart by 77.8% during the third quarter. Senator Investment Group LP now owns 400,000 shares of the company’s stock worth $8,276,000 after acquiring an additional 175,000 shares in the last quarter. Brown Advisory Inc. grew its position in EngageSmart by 67.7% in the third quarter. Brown Advisory Inc. now owns 57,384 shares of the company’s stock worth $1,187,000 after acquiring an additional 23,174 shares in the last quarter. Cat Rock Capital Management LP bought a new position in shares of EngageSmart during the 3rd quarter valued at $11,003,000. Zacks Investment Management acquired a new stake in shares of EngageSmart in the 3rd quarter valued at $325,000. Finally, Fox Run Management L.L.C. bought a new stake in EngageSmart in the fourth quarter worth $380,000. Institutional investors and hedge funds own 90.46% of the company’s stock.
About EngageSmart
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.