Expensify, Inc. (NASDAQ:EXFY) Receives $5.93 Average Target Price from Analysts

Shares of Expensify, Inc. (NASDAQ:EXFY) have been given an average rating of “Hold” by the eight research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $5.93.

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

Insider Activity at Expensify

In other Expensify news, major shareholder Steven J. Mclaughlin acquired 418,446 shares of the business’s stock in a transaction on Monday, April 29th. The stock was purchased at an average price of $1.56 per share, with a total value of $652,775.76. Following the acquisition, the insider now directly owns 9,434,282 shares of the company’s stock, valued at approximately $14,717,479.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Steven J. Mclaughlin acquired 418,446 shares of the company’s stock in a transaction on Monday, April 29th. The stock was purchased at an average cost of $1.56 per share, with a total value of $652,775.76. Following the acquisition, the insider now directly owns 9,434,282 shares of the company’s stock, valued at $14,717,479.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Steven J. Mclaughlin bought 182,941 shares of Expensify stock in a transaction dated Thursday, February 22nd. The shares were bought at an average cost of $1.59 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last three months, insiders have acquired 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 corporate insiders.

Hedge Funds Weigh In On Expensify

Several hedge funds have recently bought and sold shares of the company. SVB Wealth LLC increased its stake in Expensify by 63.9% in the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock valued at $8,297,000 after acquiring an additional 1,309,037 shares during the last quarter. Palogic Value Management L.P. increased its stake in shares of Expensify by 33.3% in the 4th quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock valued at $1,976,000 after purchasing an additional 200,000 shares during the last quarter. Walleye Capital LLC raised its holdings in shares of Expensify by 396.1% during 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Expensify by 15.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 220,490 shares of the company’s stock worth $717,000 after buying an additional 29,131 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Expensify by 57,044.0% in the fourth quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock valued at $398,000 after buying an additional 160,864 shares in the last quarter. 68.42% of the stock is owned by institutional investors.

Expensify Price Performance

Expensify stock opened at $1.66 on Monday. The company’s 50-day moving average is $1.80 and its 200-day moving average is $2.07. The firm has a market capitalization of $117.16 million, a PE ratio of -3.25 and a beta of 1.48. Expensify has a fifty-two week low of $1.40 and a fifty-two week high of $8.25.

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

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.