Expensify (NASDAQ:EXFY) Trading 2.7% Higher – Time to Buy?

Expensify, Inc. (NASDAQ:EXFY) shares traded up 2.7% during trading on Monday . The stock traded as high as $1.52 and last traded at $1.52. 307,422 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 396,300 shares. The stock had previously closed at $1.48.

Analyst Ratings Changes

EXFY has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Expensify in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Expensify from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.50.

Expensify Stock Up 2.7%

The company has a market capitalization of $122.88 million, a PE ratio of -8.94 and a beta of 1.69. The business has a 50 day simple moving average of $1.50 and a 200 day simple moving average of $1.72.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The business had revenue of $35.07 million for the quarter, compared to analysts’ expectations of $35.65 million. Expensify had a negative return on equity of 11.75% and a negative net margin of 10.83%.

Insider Buying and Selling

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $1.50, for a total value of $45,000.00. Following the completion of the transaction, the chief executive officer owned 1,348,480 shares of the company’s stock, valued at approximately $2,022,720. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy L. Christen acquired 40,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were bought at an average price of $1.43 per share, with a total value of $57,200.00. Following the completion of the purchase, the director directly owned 289,754 shares of the company’s stock, valued at approximately $414,348.22. This trade represents a 16.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 149,393 shares of company stock worth $229,959 in the last 90 days. 17.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Royce & Associates LP lifted its holdings in shares of Expensify by 52.4% during the third quarter. Royce & Associates LP now owns 30,109 shares of the company’s stock worth $56,000 after purchasing an additional 10,358 shares during the period. ProShare Advisors LLC purchased a new position in Expensify during the 2nd quarter worth approximately $32,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Expensify during the 2nd quarter valued at approximately $32,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Expensify by 28.5% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 60,304 shares of the company’s stock valued at $156,000 after acquiring an additional 13,388 shares during the last quarter. Finally, Heron Bay Capital Management acquired a new stake in shares of Expensify in the second quarter worth $37,000. 68.42% of the stock is 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.