William Blair initiated research coverage of EngageSmart, Inc. (ESMT $32.07). EngageSmart provides modern customer engagement and integrated payment solutions for businesses in health and wellness, government/utility, financial services, and nonprofit.
Analyst Robert Napoli estimated that the company would generate revenue of $208.5 million in 2021, $271.7 million in 2022, and $353.6 million in 2023.
“EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payment capabilities,” Napoli said. “It provides a multitenant, single-instance, cloud-based platform that helps businesses streamline workflows and simplify customer and client engagement. The company has a diverse set of businesses that target the large enterprise market (i.e., InvoiceCloud) and the SMB market (i.e., SimplePractice) using the core technology platform. The vertical-specific solutions support digital transformation as they typically replace manual or legacy software solutions, which can be inflexible, error-prone, and unintuitive for customers.”
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William Blair or an affiliate received compensation for investment banking services or non-investment-banking services from EngageSmart, Inc. within the last 12 months. EngageSmart, Inc. is or was, within the last 12 months, an investment banking client of William Blair & Company and/or one or more of its affiliates.
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Current Ratings Distribution (as of 10/15/21)
Outperform (Buy): 76%
Market Perform (Hold): 24%
Underperform (Sell): 1%
Inv. Banking Relationships*
Outperform (Buy): 31%
Market Perform (Hold): 14%
Underperform (Sell): 0%
* Percentage of companies in each rating category that are investment banking clients, defined as companies for which William Blair has received compensation for investment banking services within the past 12 months.
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