EngageSmart, Inc. (NYSE:ESMT) Expected to Announce Quarterly Sales of $70.23 Million

Equities research analysts expect EngageSmart, Inc. (NYSE:ESMTGet Rating) to post $70.23 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for EngageSmart’s earnings. The highest sales estimate is $71.70 million and the lowest is $69.80 million. The company is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that EngageSmart will report full year sales of $290.82 million for the current financial year, with estimates ranging from $282.80 million to $293.40 million. For the next fiscal year, analysts expect that the business will report sales of $373.17 million, with estimates ranging from $353.40 million to $380.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover EngageSmart.

EngageSmart (NYSE:ESMTGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $67.36 million during the quarter, compared to the consensus estimate of $61.86 million. The firm’s quarterly revenue was up 42.0% on a year-over-year basis.

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on EngageSmart from $25.00 to $28.00 in a research note on Wednesday, February 16th. Zacks Investment Research cut EngageSmart from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James boosted their price objective on EngageSmart from $34.00 to $35.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 16th. KeyCorp cut their price objective on EngageSmart from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, March 16th. Finally, Citigroup boosted their price objective on EngageSmart from $28.00 to $30.50 in a research report on Wednesday, February 16th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, EngageSmart has an average rating of “Buy” and an average price target of $31.05.

Shares of ESMT traded up $0.75 during trading hours on Monday, hitting $19.75. 546,556 shares of the company were exchanged, compared to its average volume of 279,353. The firm’s 50 day moving average is $20.53 and its 200-day moving average is $22.14. EngageSmart has a 52 week low of $16.76 and a 52 week high of $38.83.

In other EngageSmart news, insider Jonathan Cole Seltzer sold 8,334 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $20.88, for a total value of $174,013.92. Following the completion of the transaction, the insider now owns 1,508 shares of the company’s stock, valued at approximately $31,487.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of EngageSmart in the 4th quarter worth approximately $38,000. Morgan Stanley acquired a new position in shares of EngageSmart in the 3rd quarter worth approximately $73,000. Strs Ohio acquired a new position in shares of EngageSmart in the 4th quarter worth approximately $89,000. Citigroup Inc. acquired a new position in shares of EngageSmart in the 4th quarter worth approximately $100,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of EngageSmart in the 4th quarter worth approximately $107,000. 93.77% of the stock is owned by institutional investors and hedge funds.

About EngageSmart (Get Rating)

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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