Analysts Set Expensify, Inc. (NASDAQ:EXFY) PT at $4.20

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

Several brokerages have weighed in on EXFY. JMP Securities reiterated a “market perform” rating on shares of Expensify in a report on Friday, June 14th. Citigroup decreased their price objective on Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Finally, Morgan Stanley upgraded Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th.

Expensify Price Performance

Shares of EXFY opened at $1.44 on Tuesday. The stock has a market capitalization of $124.55 million, a price-to-earnings ratio of -3.00 and a beta of 1.46. The business’s 50 day simple moving average is $1.59 and its 200-day simple moving average is $1.83. Expensify has a 1 year low of $1.24 and a 1 year high of $8.25.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). The business 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 was down 16.5% compared to the same quarter last year. During the same period last year, the company earned ($0.07) EPS. On average, sell-side analysts expect that Expensify will post -0.11 earnings per share for the current year.

Insider Activity

In other news, CEO David Michael Barrett sold 54,685 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.74, for a total value of $95,151.90. Following the transaction, the chief executive officer now directly owns 1,324,438 shares of the company’s stock, valued at $2,304,522.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Steven J. Mclaughlin bought 418,446 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average cost of $1.56 per share, with a total value of $652,775.76. Following the completion of the acquisition, the insider now directly owns 9,434,282 shares in the company, valued at $14,717,479.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Michael Barrett sold 54,685 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.74, for a total value of $95,151.90. Following the sale, the chief executive officer now directly owns 1,324,438 shares in the company, valued at $2,304,522.12. The disclosure for this sale 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. Corporate insiders own 17.33% of the company’s stock.

Institutional Trading of Expensify

Several institutional investors have recently bought and sold shares of EXFY. Barclays PLC grew its holdings in Expensify by 433.4% in the third quarter. Barclays PLC now owns 105,759 shares of the company’s stock valued at $344,000 after purchasing an additional 85,931 shares during the period. Aigen Investment Management LP purchased a new position in shares of Expensify in the third quarter valued at approximately $134,000. Hsbc Holdings PLC lifted its position in Expensify by 63.5% during the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock worth $184,000 after buying an additional 21,700 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in Expensify during the third quarter worth approximately $156,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Expensify by 287.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 108,415 shares of the company’s stock worth $352,000 after buying an additional 80,410 shares in the last quarter. 68.42% of the stock is 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.