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

Shares of Expensify, Inc. (NASDAQ:EXFY) have received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $5.93.

Several brokerages recently commented on EXFY. Citigroup reduced their price objective on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Piper Sandler reduced their price target on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd.

Expensify Price Performance

EXFY opened at $1.63 on Monday. Expensify has a 12 month low of $1.40 and a 12 month high of $8.25. The stock has a market capitalization of $115.05 million, a P/E ratio of -3.20 and a beta of 1.49. The business has a 50 day simple moving average of $1.80 and a 200-day simple moving average of $2.11.

Expensify (NASDAQ:EXFY) last released 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 during the quarter, compared to analyst estimates 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 period last year, the business posted ($0.04) EPS. Research analysts anticipate that Expensify will post -0.19 EPS for the current year.

Insider Buying and Selling

In other Expensify news, major shareholder Steven J. Mclaughlin bought 248,712 shares of the company’s stock in a transaction on Monday, April 15th. The stock was purchased at an average cost of $1.43 per share, for a total transaction of $355,658.16. Following the acquisition, the insider now owns 8,778,407 shares of the company’s stock, valued at approximately $12,553,122.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Steven J. Mclaughlin bought 248,712 shares of Expensify stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average price of $1.43 per share, with a total value of $355,658.16. Following the purchase, the insider now owns 8,778,407 shares in the company, valued at $12,553,122.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Steven J. Mclaughlin bought 41,456 shares of the stock in a transaction on Tuesday, January 30th. The shares were bought at an average price of $1.77 per share, for a total transaction of $73,377.12. Following the acquisition, the insider now owns 8,346,754 shares in the company, valued at approximately $14,773,754.58. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 608,267 shares of company stock worth $922,648 and have sold 637,017 shares worth $1,147,475. Insiders own 20.32% of the company’s stock.

Institutional Trading of Expensify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC lifted its holdings in Expensify by 212.5% in the 4th quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after purchasing an additional 8,500 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Expensify during the third quarter worth about $35,000. Corton Capital Inc. acquired a new position in shares of Expensify in the third quarter valued at approximately $37,000. SG Americas Securities LLC purchased a new position in shares of Expensify during the third quarter valued at approximately $51,000. Finally, Azora Capital LP acquired a new stake in Expensify during the fourth quarter worth approximately $61,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

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.