Expensify (NASDAQ:EXFY) PT Lowered to $4.00

Expensify (NASDAQ:EXFY) had its price objective decreased by analysts at Citigroup from $5.00 to $4.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 142.42% from the stock’s current price.

Separately, Piper Sandler decreased their price objective on 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 issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.93.

Expensify Trading Up 6.8 %

NASDAQ EXFY opened at $1.65 on Tuesday. The stock’s 50 day moving average is $1.80 and its two-hundred day moving average is $2.13. The company has a market capitalization of $116.46 million, a price-to-earnings ratio of -3.24 and a beta of 1.49. Expensify has a 1-year low of $1.40 and a 1-year high of $8.25.

Expensify (NASDAQ:EXFY) last released its quarterly earnings data 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). The company had revenue of $35.20 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm posted ($0.04) earnings per share. On average, analysts predict that Expensify will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Steven J. Mclaughlin acquired 41,456 shares of Expensify stock in a transaction on Tuesday, January 30th. The shares were purchased at an average price of $1.77 per share, with a total value of $73,377.12. Following the acquisition, the insider now owns 8,346,754 shares in the company, valued at $14,773,754.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Expensify news, major shareholder Steven J. Mclaughlin bought 196,076 shares of the company’s stock in a transaction on Friday, January 26th. The stock was bought at an average price of $1.76 per share, for a total transaction of $345,093.76. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Steven J. Mclaughlin bought 41,456 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were acquired at an average price of $1.77 per share, with a total value of $73,377.12. Following the transaction, the insider now directly owns 8,346,754 shares in the company, valued at approximately $14,773,754.58. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 804,343 shares of company stock valued at $1,267,742 and have sold 621,107 shares valued at $1,122,655. Company insiders own 20.32% of the company’s stock.

Institutional Trading of Expensify

Several institutional investors and hedge funds have recently made changes to their positions in EXFY. FNY Investment Advisers LLC raised its position in shares of Expensify by 212.5% during the 4th quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after acquiring an additional 8,500 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Expensify in the 3rd quarter valued at $35,000. Corton Capital Inc. bought a new stake in shares of Expensify in the 3rd quarter valued at $37,000. SG Americas Securities LLC bought a new stake in shares of Expensify in the 3rd quarter valued at $51,000. Finally, Azora Capital LP bought a new stake in shares of Expensify in the 4th quarter valued at $61,000. Institutional investors own 68.42% of the company’s stock.

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.