Expensify, Inc. (NASDAQ:EXFY) Receives $4.20 Consensus Price Target from Brokerages

Shares of Expensify, Inc. (NASDAQ:EXFY) have received a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $4.20.

A number of equities analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Expensify from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 28th. Piper Sandler dropped their target price on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. JMP Securities restated a “market perform” rating on shares of Expensify in a report on Friday, June 14th. Finally, Citigroup dropped their price target on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd.

Expensify Stock Up 7.0 %

Shares of EXFY opened at $1.37 on Tuesday. The firm has a 50-day moving average price of $1.59 and a 200 day moving average price of $1.84. The firm has a market capitalization of $118.49 million, a PE ratio of -2.85 and a beta of 1.46. Expensify has a 52-week low of $1.24 and a 52-week high of $8.25.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). The company had revenue of $33.50 million during the quarter, compared to the consensus estimate of $35.56 million. Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, equities analysts expect that Expensify will post -0.11 EPS for the current year.

Insider Transactions at Expensify

In other news, CEO David Michael Barrett sold 14,091 shares of Expensify stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $1.78, for a total value of $25,081.98. Following the transaction, the chief executive officer now directly owns 892,158 shares of the company’s stock, valued at $1,588,041.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Steven J. Mclaughlin purchased 17,511 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was acquired at an average cost of $1.59 per share, for a total transaction of $27,842.49. Following the completion of the acquisition, the insider now owns 9,015,636 shares in the company, valued at approximately $14,334,861.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Michael Barrett sold 14,091 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $1.78, for a total transaction of $25,081.98. Following the sale, the chief executive officer now owns 892,158 shares of the company’s stock, valued at $1,588,041.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 850,961 shares of company stock valued at $1,289,019 and have sold 677,524 shares valued at $1,090,473. 17.33% of the stock is currently owned by insiders.

Institutional Trading of Expensify

Several institutional investors have recently made changes to their positions in the stock. SVB Wealth LLC boosted its holdings in shares of Expensify by 63.9% during the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock worth $8,297,000 after purchasing an additional 1,309,037 shares during the period. Vanguard Group Inc. lifted its stake in Expensify by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock valued at $6,158,000 after acquiring an additional 476,687 shares during the last quarter. Palogic Value Management L.P. lifted its stake in Expensify by 33.3% in the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock valued at $1,976,000 after acquiring an additional 200,000 shares during the last quarter. Walleye Capital LLC lifted its stake in Expensify by 396.1% in the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock valued at $2,322,000 after acquiring an additional 570,495 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Expensify by 74.4% in the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock valued at $557,000 after acquiring an additional 129,689 shares during the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.

About Expensify

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises in the United States and internationally. The company's platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.