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

Shares of Expensify, Inc. (NASDAQ:EXFY) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research 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 1-year price target among analysts that have issued a report on the stock in the last year is $4.20.

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

Insider Activity

In other news, COO Anuradha Muralidharan sold 17,520 shares of Expensify stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $1.50, for a total transaction of $26,280.00. Following the sale, the chief operating officer now directly owns 79,377 shares of the company’s stock, valued at $119,065.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Anuradha Muralidharan sold 17,520 shares of Expensify stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $1.50, for a total value of $26,280.00. Following the transaction, the chief operating officer now directly owns 79,377 shares of the company’s stock, valued at $119,065.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy L. Christen acquired 19,162 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was bought at an average cost of $1.61 per share, for a total transaction of $30,850.82. Following the completion of the purchase, the director now owns 122,604 shares of the company’s stock, valued at $197,392.44. The disclosure for this purchase can be found here. Over the last three months, 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. Insiders own 17.33% of the company’s stock.

Hedge Funds Weigh In On Expensify

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in Expensify in the first quarter valued at approximately $65,000. 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 buying an additional 129,689 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 buying an additional 476,687 shares during the period. 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 buying an additional 200,000 shares during the period. Finally, Azora Capital LP acquired a new position in Expensify in the fourth quarter valued at approximately $61,000. 68.42% of the stock is owned by institutional investors and hedge funds.

Expensify Stock Up 7.0 %

Expensify stock opened at $1.37 on Tuesday. Expensify has a 12-month low of $1.24 and a 12-month high of $8.25. The business’s 50-day moving average price is $1.59 and its two-hundred day moving average price is $1.84. The stock has a market cap of $118.49 million, a PE ratio of -2.85 and a beta of 1.46.

Expensify (NASDAQ:EXFY) last released 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). Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The business had revenue of $33.50 million during the quarter, compared to the consensus estimate of $35.56 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The business’s revenue was down 16.5% on a year-over-year basis. As a group, analysts expect that Expensify will post -0.11 earnings per share for the current 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.