Expensify (NASDAQ:EXFY) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Expensify (NASDAQ:EXFY) from a sell rating to a hold rating in a research report released on Saturday.

Separately, Weiss Ratings restated 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 issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.50.

Expensify Trading Up 2.5%

Shares of Expensify stock opened at $0.83 on Friday. The company has a fifty day simple moving average of $1.21 and a 200-day simple moving average of $1.49. Expensify has a 12-month low of $0.69 and a 12-month high of $3.60. The stock has a market cap of $67.52 million, a price-to-earnings ratio of -3.48 and a beta of 1.74.

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

Insider Activity at Expensify

In other Expensify news, major shareholder Steven J. Mclaughlin bought 500,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost of $0.84 per share, for a total transaction of $420,000.00. Following the completion of the transaction, the insider owned 12,203,393 shares in the company, valued at approximately $10,250,850.12. The trade was a 4.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Michael Barrett sold 30,000 shares of Expensify 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 completion of the transaction, the chief executive officer directly owned 1,318,480 shares in the company, valued at $1,911,796. The trade was a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders bought 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted 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 worth $3,435,000 after buying an additional 759,982 shares during the period. Millennium Management LLC increased 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 valued at $4,276,000 after acquiring an additional 714,244 shares during the period. Globeflex Capital L P acquired a new position in Expensify in the 2nd quarter valued at about $845,000. Vanguard Group Inc. raised its stake in Expensify by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company’s stock valued at $8,406,000 after acquiring an additional 197,702 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Expensify during the 4th quarter valued at approximately $240,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

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.