Engagesmart (NYSE:ESMT) had its target price cut by Raymond James from $40.00 to $34.00 in a research report sent to investors on Tuesday, The Fly reports. They currently have a strong-buy rating on the stock.
Several other brokerages have also recently issued reports on ESMT. Bank of America raised Engagesmart from a neutral rating to a buy rating and set a $35.00 price objective for the company in a report on Monday, November 15th. The Goldman Sachs Group decreased their price objective on Engagesmart from $44.00 to $34.00 and set a buy rating for the company in a report on Monday, December 13th. KeyCorp assumed coverage on Engagesmart in a report on Monday, October 18th. They issued an overweight rating and a $40.00 price objective for the company. Truist Securities initiated coverage on Engagesmart in a report on Monday, October 18th. They issued a buy rating and a $45.00 price objective for the company. Finally, Citigroup raised Engagesmart from a neutral rating to a buy rating and reduced their price target for the stock from $35.50 to $31.00 in a report on Thursday, December 9th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $37.10.
Shares of ESMT stock opened at $21.13 on Tuesday. Engagesmart has a 1-year low of $19.16 and a 1-year high of $38.83. The stock’s fifty day simple moving average is $23.38.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Monashee Investment Management LLC purchased a new stake in Engagesmart during the 3rd quarter worth approximately $2,044,000. TimesSquare Capital Management LLC purchased a new stake in Engagesmart during the 3rd quarter worth approximately $27,641,000. Lisanti Capital Growth LLC purchased a new stake in Engagesmart during the 3rd quarter worth approximately $1,371,000. Islet Management LP purchased a new stake in Engagesmart during the 3rd quarter worth approximately $5,109,000. Finally, BlackRock Inc. purchased a new stake in Engagesmart during the 3rd quarter worth approximately $43,808,000. 86.66% of the stock is owned by institutional investors.
EngageSmart Inc is a provider of vertically-tailored customer engagement software and integrated payments solutions. It offers single instance, multi-tenant, true Software-as-a-Service vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive. The company’s solutions segment includes Health & Wellness, Government, Utilities, Financial Services and Giving.
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