Brokerages Set Expensify, Inc. (NASDAQ:EXFY) Price Target at $5.93

Expensify, Inc. (NASDAQ:EXFY) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $5.93.

A number of brokerages have recently weighed in on EXFY. Piper Sandler dropped their price objective on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Citigroup dropped their price target on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd.

Expensify Stock Performance

Expensify stock opened at $1.66 on Monday. Expensify has a one year low of $1.40 and a one year high of $8.25. The stock has a market cap of $117.16 million, a PE ratio of -3.25 and a beta of 1.48. The stock has a 50-day moving average of $1.80 and a two-hundred day moving average of $2.05.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The company had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The business’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) earnings per share. As a group, sell-side analysts predict that Expensify will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Expensify

In related news, CEO David Michael Barrett sold 80,082 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $1.97, for a total transaction of $157,761.54. Following the completion of the sale, the chief executive officer now directly owns 1,967,748 shares of the company’s stock, valued at approximately $3,876,463.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David Michael Barrett sold 80,082 shares of Expensify stock in a transaction dated 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 transaction, the chief executive officer now owns 1,967,748 shares in the company, valued at approximately $3,876,463.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Steven J. Mclaughlin bought 182,941 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $1.59 per share, with a total value of $290,876.19. Following the purchase, the insider now owns 8,529,695 shares of the company’s stock, valued at $13,562,215.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,014,740 shares of company stock worth $1,549,045 and have sold 650,954 shares worth $1,170,162. 20.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Expensify

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Palogic Value Management L.P. lifted its stake in Expensify by 33.3% in the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock valued at $1,976,000 after buying an additional 200,000 shares during the last quarter. Azora Capital LP purchased a new stake in Expensify in the fourth quarter valued at approximately $61,000. CastleKnight Management LP lifted its stake in Expensify by 79.5% in the fourth quarter. CastleKnight Management LP now owns 131,200 shares of the company’s stock valued at $324,000 after buying an additional 58,100 shares during the last quarter. Aristides Capital LLC purchased a new stake in Expensify in the fourth quarter valued at approximately $134,000. Finally, Ceera Investments LLC purchased a new stake in Expensify in the fourth quarter valued at approximately $309,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

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.