Expensify (NASDAQ:EXFY) Upgraded to “Hold” at Zacks Investment Research

Expensify (NASDAQ:EXFYGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Expensify Inc. is a payments superapp which helps individuals and businesses around the world simplify the way they manage money. The company’s free features include corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay and travel booking in one app. Expensify Inc. is based in PORTLAND, Ore. “

Other analysts also recently issued reports about the company. BMO Capital Markets began coverage on Expensify in a research note on Monday, April 25th. They issued an “outperform” rating and a $25.00 price target on the stock. Piper Sandler decreased their price target on Expensify from $45.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, March 31st. Loop Capital decreased their price target on Expensify from $22.00 to $17.00 in a research note on Thursday, March 31st. Citigroup decreased their price target on Expensify from $27.00 to $21.00 in a research note on Friday, May 13th. Finally, JMP Securities reduced their price objective on Expensify from $44.00 to $26.00 and set a “market outperform” rating for the company in a report on Thursday, March 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $30.43.

Shares of EXFY stock traded up $0.36 during midday trading on Friday, hitting $20.54. The company had a trading volume of 364,734 shares, compared to its average volume of 378,995. The stock has a 50 day simple moving average of $17.50. Expensify has a 52-week low of $13.58 and a 52-week high of $51.06. The company has a current ratio of 2.85, a quick ratio of 2.94 and a debt-to-equity ratio of 0.61.

Expensify (NASDAQ:EXFYGet Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $40.37 million during the quarter, compared to analysts’ expectations of $39.47 million. As a group, equities analysts predict that Expensify will post -0.24 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXFY. West Branch Capital LLC acquired a new position in shares of Expensify in the fourth quarter worth $44,000. Quantbot Technologies LP acquired a new position in shares of Expensify in the first quarter worth $86,000. Advisor Group Holdings Inc. acquired a new position in shares of Expensify in the fourth quarter worth $197,000. JPMorgan Chase & Co. acquired a new position in shares of Expensify in the fourth quarter worth $197,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Expensify in the first quarter worth $246,000. 49.31% of the stock is owned by institutional investors.

About Expensify (Get Rating)

Expensify, Inc provides a cloud-based expense management software platform to individuals, small businesses, and corporations 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.

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