Expensify (NASDAQ:EXFY) Now Covered by Morgan Stanley

Equities research analysts at Morgan Stanley started coverage on shares of Expensify (NASDAQ:EXFYGet Rating) in a report issued on Tuesday, The Fly reports. The firm set an “equal weight” rating and a $9.00 price target on the stock.

Other analysts have also recently issued reports about the company. Lake Street Capital began coverage on Expensify in a research report on Wednesday, December 7th. They issued a “buy” rating and a $12.00 price target on the stock. JMP Securities lowered their price objective on Expensify from $26.00 to $20.00 and set a “market outperform” rating on the stock in a research report on Friday, November 11th. Citigroup lowered their price objective on Expensify from $25.00 to $20.00 in a research report on Friday, October 21st. Finally, Piper Sandler cut Expensify from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $12.00 in a report on Friday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.89.

Expensify Stock Down 0.1 %

Shares of NASDAQ:EXFY opened at $9.00 on Tuesday. Expensify has a 1 year low of $7.98 and a 1 year high of $29.51. The company has a market cap of $614.28 million, a PE ratio of -8.11 and a beta of 0.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.99 and a quick ratio of 2.99. The stock’s 50-day moving average is $9.19 and its 200 day moving average is $14.37.

Expensify (NASDAQ:EXFYGet Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Expensify had a negative return on equity of 22.00% and a negative net margin of 27.34%. The company had revenue of $42.49 million during the quarter, compared to the consensus estimate of $45.62 million. Sell-side analysts anticipate that Expensify will post -0.3 EPS for the current year.

Insider Activity

In other news, CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $9.08, for a total value of $272,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,472,003 shares in the company, valued at approximately $31,525,787.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $9.08, for a total value of $272,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,472,003 shares in the company, valued at approximately $31,525,787.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Vidal sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $8.97, for a total value of $44,850.00. Following the completion of the sale, the director now owns 92,792 shares of the company’s stock, valued at $832,344.24. The disclosure for this sale can be found here. Insiders have sold 65,000 shares of company stock valued at $604,050 in the last ninety days. 21.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Expensify

A number of institutional investors have recently bought and sold shares of EXFY. SVB Wealth LLC purchased a new stake in Expensify in the 2nd quarter worth $54,459,000. Vanguard Group Inc. lifted its holdings in shares of Expensify by 58.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,866,629 shares of the company’s stock valued at $57,536,000 after acquiring an additional 1,431,326 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Expensify by 452.6% in the 3rd quarter. Marshall Wace LLP now owns 754,584 shares of the company’s stock valued at $11,228,000 after acquiring an additional 618,022 shares during the last quarter. Ieq Capital LLC bought a new position in shares of Expensify in the 2nd quarter valued at about $10,382,000. Finally, BlackRock Inc. lifted its holdings in shares of Expensify by 61.2% in the 3rd quarter. BlackRock Inc. now owns 1,349,717 shares of the company’s stock valued at $20,084,000 after acquiring an additional 512,628 shares during the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.

About Expensify

(Get Rating)

Expensify, Inc provides a cloud-based expense management software platform to individuals, small businesses, and corporations 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.

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