Expensify, Inc. (NASDAQ:EXFY) Given Average Recommendation of “Hold” by Brokerages

Shares of Expensify, Inc. (NASDAQ:EXFY) have received an average rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $4.20.

A number of research firms have recently weighed in on EXFY. JMP Securities reiterated a “market perform” rating on shares of Expensify in a research report on Friday. Citigroup cut their target price on Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Morgan Stanley upgraded Expensify from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 28th. Finally, Piper Sandler cut their target price on Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd.

Insider Transactions at Expensify

In other news, COO Anuradha Muralidharan sold 21,118 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $1.43, for a total transaction of $30,198.74. Following the completion of the transaction, the chief operating officer now owns 58,259 shares of the company’s stock, valued at approximately $83,310.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Timothy L. Christen bought 19,162 shares of the stock in a transaction on Thursday, May 30th. The stock was acquired at an average price of $1.61 per share, with a total value of $30,850.82. Following the acquisition, the director now directly owns 122,604 shares in the company, valued at $197,392.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Anuradha Muralidharan sold 21,118 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $1.43, for a total value of $30,198.74. Following the completion of the transaction, the chief operating officer now directly owns 58,259 shares of the company’s stock, valued at approximately $83,310.37. The disclosure for this sale can be found here. In the last quarter, insiders acquired 850,961 shares of company stock valued at $1,289,019 and sold 743,982 shares valued at $1,229,661. 17.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Expensify

A number of institutional investors and hedge funds have recently bought and sold shares of EXFY. Hsbc Holdings PLC grew its position in shares of Expensify by 63.5% in the 3rd quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock valued at $184,000 after buying an additional 21,700 shares during the last quarter. Barclays PLC grew its position in shares of Expensify by 433.4% in the 3rd quarter. Barclays PLC now owns 105,759 shares of the company’s stock valued at $344,000 after buying an additional 85,931 shares during the last quarter. Walleye Capital LLC boosted its position in shares of Expensify by 396.1% during the 3rd quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock valued at $2,322,000 after purchasing an additional 570,495 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Expensify during the 3rd quarter valued at about $134,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Expensify during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

Expensify Price Performance

EXFY opened at $1.33 on Tuesday. The business has a fifty day simple moving average of $1.60 and a 200 day simple moving average of $1.86. The company has a market capitalization of $115.03 million, a PE ratio of -2.77 and a beta of 1.46. Expensify has a 1 year low of $1.24 and a 1 year high of $8.25.

Expensify (NASDAQ:EXFY) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12). The firm 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 revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. Equities analysts anticipate that Expensify will post -0.11 earnings per share for the current fiscal year.

Expensify Company Profile

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.