Brokerages Set Expensify, Inc. (NASDAQ:EXFY) PT at $5.93

Expensify, Inc. (NASDAQ:EXFY) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $5.93.

A number of analysts recently issued reports on EXFY shares. Citigroup lowered their price target on Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Piper Sandler lowered their price target on Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Friday, February 23rd.

Expensify Stock Performance

EXFY opened at $1.62 on Monday. The stock has a market cap of $114.34 million, a price-to-earnings ratio of -3.18 and a beta of 1.49. The stock’s 50 day moving average price is $1.80 and its 200-day moving average price is $2.08. Expensify has a one year low of $1.40 and a one year high of $8.25.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The business had revenue of $35.20 million for the quarter, compared to the consensus estimate of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The company’s quarterly revenue was down 19.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. As a group, analysts predict that Expensify will post -0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Steven J. Mclaughlin bought 418,446 shares of the stock in a transaction on Monday, April 29th. The stock was bought at an average price of $1.56 per share, for a total transaction of $652,775.76. Following the completion of the acquisition, the insider now directly owns 9,434,282 shares in the company, valued at $14,717,479.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Steven J. Mclaughlin bought 418,446 shares of the stock in a transaction on Monday, April 29th. The stock was bought at an average price of $1.56 per share, for a total transaction of $652,775.76. Following the completion of the acquisition, the insider now directly owns 9,434,282 shares in the company, valued at $14,717,479.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Steven J. Mclaughlin bought 182,941 shares of the stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $1.59 per share, with a total value of $290,876.19. Following the acquisition, the insider now owns 8,529,695 shares of the company’s stock, valued at $13,562,215.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,002,768 shares of company stock worth $1,529,890 and sold 650,954 shares worth $1,170,162. 20.32% of the stock is owned by company insiders.

Institutional Trading of Expensify

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new stake in Expensify in the third quarter worth about $35,000. Corton Capital Inc. acquired a new stake in Expensify in the 3rd quarter worth approximately $37,000. FNY Investment Advisers LLC grew its position in Expensify by 212.5% during the 4th quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock worth $30,000 after purchasing an additional 8,500 shares during the last quarter. SG Americas Securities LLC acquired a new position in Expensify during the 3rd quarter valued at approximately $51,000. Finally, Azora Capital LP purchased a new position in shares of Expensify in the fourth quarter worth $61,000. Hedge funds and other 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.