Expensify (NASDAQ:EXFY) Trading 2.7% Higher – Time to Buy?

Expensify, Inc. (NASDAQ:EXFY)’s stock price was up 2.7% during mid-day trading on Monday . The stock traded as high as $1.52 and last traded at $1.52. Approximately 307,422 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 396,300 shares. The stock had previously closed at $1.48.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EXFY shares. Wall Street Zen downgraded Expensify from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Expensify in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.50.

Expensify Stock Up 2.7%

The stock has a market capitalization of $122.88 million, a PE ratio of -8.94 and a beta of 1.69. The stock’s 50 day moving average price is $1.50 and its 200-day moving average price is $1.72.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.08). The company had revenue of $35.07 million during the quarter, compared to analysts’ expectations of $35.65 million. Expensify had a negative return on equity of 11.75% and a negative net margin of 10.83%.

Insider Buying and Selling

In other news, Director Timothy L. Christen acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average price of $1.43 per share, with a total value of $57,200.00. Following the completion of the purchase, the director directly owned 289,754 shares in the company, valued at $414,348.22. This trade represents a 16.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Michael Barrett sold 30,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $1.50, for a total value of $45,000.00. Following the transaction, the chief executive officer owned 1,348,480 shares in the company, valued at $2,022,720. The trade was a 2.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 149,393 shares of company stock valued at $229,959 in the last quarter. 17.33% of the stock is owned by company insiders.

Institutional Trading of Expensify

Several institutional investors and hedge funds have recently made changes to their positions in EXFY. ProShare Advisors LLC bought a new stake in shares of Expensify in the 2nd quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Expensify during the second quarter valued at approximately $32,000. Heron Bay Capital Management bought a new position in Expensify in the second quarter worth approximately $37,000. Savant Capital LLC purchased a new stake in Expensify during the third quarter worth $30,000. Finally, SG Americas Securities LLC purchased a new stake in Expensify during the fourth quarter worth $27,000. 68.42% of the stock is currently owned by institutional investors.

Expensify Company Profile

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.