Expensify (NASDAQ:EXFY) Price Target Lowered to $4.00 at Citigroup

Expensify (NASDAQ:EXFY) had its target price trimmed by Citigroup from $5.00 to $4.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Piper Sandler decreased 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $5.93.

Expensify Trading Down 9.1 %

NASDAQ EXFY opened at $1.55 on Tuesday. The firm’s fifty day moving average price is $1.80 and its two-hundred day moving average price is $2.14. Expensify has a 1 year low of $1.40 and a 1 year high of $8.47. The firm has a market capitalization of $109.05 million, a P/E ratio of -3.03 and a beta of 1.49.

Expensify (NASDAQ:EXFY) last released 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). Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The company had revenue of $35.20 million during the quarter, compared to analyst estimates of $36.85 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. Expensify’s revenue for the quarter was down 19.1% on a year-over-year basis. On average, research analysts anticipate that Expensify will post -0.19 EPS for the current fiscal year.

Insider Activity at Expensify

In other Expensify news, major shareholder Steven J. Mclaughlin purchased 135,158 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average cost of $1.50 per share, for a total transaction of $202,737.00. Following the completion of the purchase, the insider now owns 8,989,644 shares of the company’s stock, valued at approximately $13,484,466. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Expensify news, major shareholder Steven J. Mclaughlin purchased 196,076 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were acquired at an average cost of $1.76 per share, for a total transaction of $345,093.76. Following the completion of the purchase, the insider now owns 8,305,298 shares of the company’s stock, valued at approximately $14,617,324.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Steven J. Mclaughlin purchased 135,158 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $1.50 per share, for a total transaction of $202,737.00. Following the completion of the purchase, the insider now directly owns 8,989,644 shares of the company’s stock, valued at approximately $13,484,466. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 804,343 shares of company stock worth $1,267,742 and have sold 621,107 shares worth $1,122,655. 20.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Expensify

A number of large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC grew its stake in Expensify by 212.5% during the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock worth $30,000 after buying an additional 8,500 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Expensify during the third quarter worth about $35,000. Corton Capital Inc. acquired a new stake in Expensify during the third quarter worth about $37,000. SG Americas Securities LLC acquired a new stake in Expensify during the third quarter worth about $51,000. Finally, Hsbc Holdings PLC grew its stake in Expensify by 63.5% during the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock worth $184,000 after buying an additional 21,700 shares in the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.

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.