Expensify (NASDAQ:EXFY) Upgraded by Wall Street Zen to Hold Rating

Expensify (NASDAQ:EXFY) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Expensify in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.50.

Expensify Trading Up 2.5%

Shares of NASDAQ:EXFY opened at $0.83 on Friday. The company has a market cap of $67.52 million, a PE ratio of -3.48 and a beta of 1.74. Expensify has a 12-month low of $0.69 and a 12-month high of $3.60. The stock has a 50 day moving average of $1.21 and a 200 day moving average of $1.50.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.13). The firm had revenue of $35.20 million for the quarter, compared to the consensus estimate of $35.50 million. Expensify had a negative net margin of 15.05% and a negative return on equity of 16.00%.

Insiders Place Their Bets

In other news, major shareholder Steven J. Mclaughlin acquired 500,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was bought at an average cost of $0.84 per share, with a total value of $420,000.00. Following the completion of the purchase, the insider directly owned 12,203,393 shares of the company’s stock, valued at $10,250,850.12. This represents a 4.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Michael Barrett sold 30,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.45, for a total transaction of $43,500.00. Following the transaction, the chief executive officer owned 1,318,480 shares in the company, valued at $1,911,796. This trade represents a 2.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders purchased 2,263,444 shares of company stock valued at $2,132,976 and sold 94,004 shares valued at $140,056. 12.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Expensify

A number of large investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in Expensify by 103.2% in the 1st quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock worth $4,276,000 after purchasing an additional 714,244 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Expensify during the first quarter valued at approximately $142,000. ProShare Advisors LLC purchased a new position in shares of Expensify during the second quarter valued at approximately $32,000. Geode Capital Management LLC grew its stake in shares of Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock valued at $3,435,000 after buying an additional 759,982 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Expensify during the second quarter valued at approximately $32,000. 68.42% of the stock is owned by hedge funds and other 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.