Expensify (NASDAQ:EXFY) PT Lowered to $4.00

Expensify (NASDAQ:EXFY) had its target price cut by Citigroup from $5.00 to $4.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Piper Sandler decreased their target price on Expensify from $3.00 to $2.00 and set a neutral rating for the company in a report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Expensify has an average rating of Hold and an average price target of $5.93.

Expensify Stock Down 9.1 %

Shares of Expensify stock opened at $1.55 on Tuesday. The company has a market cap of $109.05 million, a PE ratio of -3.03 and a beta of 1.49. The business has a 50 day moving average of $1.80 and a 200 day moving average of $2.14. Expensify has a 52 week low of $1.40 and a 52 week high of $8.47.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The business had revenue of $35.20 million for the quarter, compared to the consensus estimate of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. Expensify’s revenue was down 19.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, research analysts anticipate that Expensify will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Anuradha Muralidharan sold 16,584 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $2.14, for a total value of $35,489.76. Following the sale, the chief operating officer now directly owns 77,080 shares of the company’s stock, valued at $164,951.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Anuradha Muralidharan sold 16,584 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $2.14, for a total value of $35,489.76. Following the sale, the chief operating officer now directly owns 77,080 shares of the company’s stock, valued at $164,951.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Michael Barrett sold 80,082 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $1.97, for a total value of $157,761.54. Following the completion of the sale, the chief executive officer now directly owns 1,967,748 shares in the company, valued at $3,876,463.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 804,343 shares of company stock valued at $1,267,742 and have sold 621,107 shares valued at $1,122,655. 20.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Expensify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC grew its stake in shares of Expensify by 63.9% in the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock worth $8,297,000 after acquiring an additional 1,309,037 shares during the last quarter. Palogic Value Management L.P. grew its stake in shares of Expensify by 33.3% in the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock worth $1,976,000 after acquiring an additional 200,000 shares during the last quarter. Walleye Capital LLC grew its stake in shares of Expensify by 396.1% in the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock worth $2,322,000 after acquiring an additional 570,495 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Expensify by 15.2% in the third quarter. Bank of New York Mellon Corp now owns 220,490 shares of the company’s stock worth $717,000 after acquiring an additional 29,131 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Expensify by 57,044.0% in the fourth quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock worth $398,000 after acquiring an additional 160,864 shares during the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.

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.