Analysts Set Expensify, Inc. (NASDAQ:EXFY) PT at $5.93

Expensify, Inc. (NASDAQ:EXFY) has received an average rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $5.93.

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

Expensify Stock Up 1.3 %

EXFY stock opened at $1.62 on Monday. The business has a 50 day moving average of $1.80 and a 200-day moving average of $2.08. The firm has a market cap of $114.34 million, a PE ratio of -3.18 and a beta of 1.49. Expensify has a 12-month low of $1.40 and a 12-month high of $8.25.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) earnings per share (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 the consensus estimate of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The firm’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. On average, research analysts expect that Expensify will post -0.19 earnings per share for the current year.

Insider Activity

In other Expensify news, major shareholder Steven J. Mclaughlin acquired 182,941 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was bought at an average cost of $1.59 per share, with a total value of $290,876.19. Following the acquisition, the insider now owns 8,529,695 shares in the company, valued at $13,562,215.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Steven J. Mclaughlin purchased 182,941 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $1.59 per share, with a total value of $290,876.19. Following the completion of the acquisition, the insider now owns 8,529,695 shares in the company, valued at approximately $13,562,215.05. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Anuradha Muralidharan sold 20,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $2.15, for a total value of $43,000.00. Following the completion of the transaction, the chief operating officer now owns 57,080 shares in the company, valued at $122,722. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,002,768 shares of company stock valued at $1,529,890 and have sold 650,954 shares valued at $1,170,162. Insiders own 20.32% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EXFY. SVB Wealth LLC boosted its holdings in shares of Expensify by 63.9% during the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock worth $8,297,000 after purchasing an additional 1,309,037 shares during the period. Walleye Capital LLC lifted its holdings in Expensify by 396.1% in the 3rd quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock worth $2,322,000 after buying an additional 570,495 shares during the period. Palogic Value Management L.P. lifted its holdings in Expensify by 33.3% in the 4th quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock worth $1,976,000 after buying an additional 200,000 shares during the period. Federated Hermes Inc. grew its position in shares of Expensify by 57,044.0% in the 4th quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock worth $398,000 after buying an additional 160,864 shares during the last quarter. Finally, Ceera Investments LLC purchased a new position in shares of Expensify during the fourth quarter valued at approximately $309,000. 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.