Expensify (NASDAQ:EXFY) Rating Lowered to Sell at Wall Street Zen

Expensify (NASDAQ:EXFY) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Expensify in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Expensify Stock Up 0.2%

Shares of EXFY opened at $0.96 on Friday. The business has a 50-day simple moving average of $1.34 and a two-hundred day simple moving average of $1.57. The stock has a market cap of $77.83 million, a price-to-earnings ratio of -4.01 and a beta of 1.74. Expensify has a 52 week low of $0.89 and a 52 week high of $3.78.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13). Expensify had a negative net margin of 15.05% and a negative return on equity of 16.00%. The company had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $35.50 million.

Insider Buying and Selling at Expensify

In other news, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.45, for a total value of $43,500.00. Following the sale, the chief executive officer directly owned 1,318,480 shares of the company’s stock, valued at approximately $1,911,796. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 110,393 shares of company stock worth $165,459 in the last ninety days. Company insiders own 12.27% of the company’s stock.

Hedge Funds Weigh In On Expensify

Institutional investors have recently added to or reduced their stakes in the company. Abel Hall LLC bought a new stake in Expensify in the 4th quarter worth approximately $25,000. SG Americas Securities LLC bought a new position in shares of Expensify during the 4th quarter valued at approximately $27,000. Savant Capital LLC bought a new position in shares of Expensify during the 3rd quarter valued at approximately $30,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Expensify in the second quarter valued at $32,000. Finally, ProShare Advisors LLC purchased a new position in shares of Expensify in the second quarter valued at $32,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

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.