Wall Street Zen Upgrades Expensify (NASDAQ:EXFY) to Hold

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

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Expensify in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.50.

Expensify Stock Up 2.5%

EXFY stock opened at $0.83 on Friday. Expensify has a twelve month low of $0.69 and a twelve month high of $3.60. The firm has a market cap of $67.52 million, a price-to-earnings ratio of -3.48 and a beta of 1.74. The business’s fifty day simple moving average is $1.21 and its two-hundred day simple moving average is $1.50.

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

Insiders Place Their Bets

In other news, major shareholder Steven J. Mclaughlin purchased 500,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average price of $0.84 per share, for a total transaction of $420,000.00. Following the completion of the purchase, the insider owned 12,203,393 shares in the company, valued at approximately $10,250,850.12. This represents a 4.27% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.45, for a total value of $43,500.00. Following the completion of the sale, the chief executive officer owned 1,318,480 shares of the company’s stock, valued at $1,911,796. The trade was a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have bought 2,263,444 shares of company stock worth $2,132,976 and have sold 94,004 shares worth $140,056. 12.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Millington Financial Advisors LLC purchased a new stake in shares of Expensify in the 2nd quarter worth approximately $104,000. Globeflex Capital L P purchased a new position in Expensify during the second quarter valued at approximately $845,000. Franklin Resources Inc. purchased a new position in Expensify during the third quarter valued at approximately $34,000. Abel Hall LLC bought a new position in Expensify in the fourth quarter worth approximately $25,000. Finally, Prentiss Smith & Co. Inc. bought a new position in Expensify in the fourth quarter worth approximately $49,000. 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.