Wall Street Zen Upgrades Expensify (NASDAQ:EXFY) to “Buy”

Expensify (NASDAQ:EXFY) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other research analysts also recently weighed in on EXFY. Lake Street Capital decreased their price target on Expensify from $5.00 to $4.50 and set a “buy” rating for the company in a research note on Friday, May 9th. BMO Capital Markets dropped their target price on Expensify from $3.00 to $2.50 and set a “market perform” rating for the company in a report on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4.00.

Expensify Stock Performance

NASDAQ EXFY opened at $1.81 on Tuesday. The stock has a market cap of $145.80 million, a price-to-earnings ratio of -11.31 and a beta of 1.72. Expensify has a 52-week low of $1.60 and a 52-week high of $4.13. The business has a 50 day simple moving average of $2.21 and a 200 day simple moving average of $2.73.

Insider Activity

In other news, CEO David Michael Barrett sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $1.94, for a total value of $58,200.00. Following the completion of the sale, the chief executive officer directly owned 1,498,480 shares in the company, valued at $2,907,051.20. This trade represents a 1.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 83,609 shares of company stock worth $185,706. 17.33% of the stock is owned by insiders.

Institutional Trading of Expensify

Institutional investors and hedge funds have recently modified their holdings of the stock. Mariner LLC purchased a new position in shares of Expensify in the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC grew its stake in Expensify by 1,194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock valued at $36,000 after buying an additional 9,997 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Expensify in the second quarter valued at $30,000. Alpine Global Management LLC bought a new stake in shares of Expensify during the fourth quarter valued at about $40,000. Finally, ProShare Advisors LLC bought a new stake in Expensify during the 2nd quarter worth approximately $32,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

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.