Expensify (NASDAQ:EXFY) Price Target Lowered to $10.00 at Lake Street Capital

Expensify (NASDAQ:EXFYGet Rating) had its price target decreased by analysts at Lake Street Capital from $11.00 to $10.00 in a research note issued on Wednesday, The Fly reports. Lake Street Capital’s target price suggests a potential upside of 67.93% from the stock’s current price.

Other research analysts have also issued research reports about the company. Piper Sandler dropped their target price on Expensify from $10.00 to $9.00 in a report on Wednesday. BMO Capital Markets lowered Expensify from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $12.00 to $8.50 in a report on Wednesday. Citigroup dropped their target price on Expensify from $12.00 to $10.00 in a report on Wednesday. Morgan Stanley started coverage on Expensify in a report on Tuesday, January 17th. They issued an “equal weight” rating and a $9.00 target price on the stock. Finally, JMP Securities dropped their target price on Expensify from $15.00 to $12.00 in a report on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.19.

Expensify Trading Up 0.8 %

EXFY opened at $5.96 on Wednesday. The firm has a market cap of $407.98 million, a price-to-earnings ratio of -18.04 and a beta of 1.15. Expensify has a 52 week low of $5.67 and a 52 week high of $25.39. The business’s 50 day moving average is $7.78 and its two-hundred day moving average is $9.10. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 0.53.

Expensify (NASDAQ:EXFYGet Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.17). The firm had revenue of $40.10 million for the quarter, compared to analyst estimates of $43.73 million. Expensify had a negative return on equity of 29.18% and a negative net margin of 15.94%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned ($0.09) EPS. On average, research analysts predict that Expensify will post -0.06 EPS for the current year.

Insider Activity at Expensify

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $8.28, for a total value of $248,400.00. Following the sale, the chief executive officer now owns 3,412,003 shares of the company’s stock, valued at $28,251,384.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $8.28, for a total value of $248,400.00. Following the sale, the chief executive officer now owns 3,412,003 shares of the company’s stock, valued at $28,251,384.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Vidal sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $9.82, for a total value of $49,100.00. Following the completion of the sale, the director now directly owns 87,792 shares in the company, valued at approximately $862,117.44. The disclosure for this sale can be found here. Insiders have sold a total of 65,000 shares of company stock worth $542,600 over the last three months. 21.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Expensify

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Expensify by 58.8% during the third quarter. Vanguard Group Inc. now owns 3,866,629 shares of the company’s stock valued at $57,536,000 after acquiring an additional 1,431,326 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Expensify during the fourth quarter valued at $29,671,000. Capital Research Global Investors boosted its stake in shares of Expensify by 27.3% during the first quarter. Capital Research Global Investors now owns 2,120,087 shares of the company’s stock valued at $37,229,000 after acquiring an additional 455,026 shares during the last quarter. Durable Capital Partners LP boosted its stake in shares of Expensify by 27.5% during the first quarter. Durable Capital Partners LP now owns 2,069,629 shares of the company’s stock valued at $36,343,000 after acquiring an additional 445,937 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Expensify by 61.2% during the third quarter. BlackRock Inc. now owns 1,349,717 shares of the company’s stock valued at $20,084,000 after acquiring an additional 512,628 shares during the last quarter. Institutional investors and hedge funds own 52.29% of the company’s stock.

About Expensify

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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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