Expensify (NASDAQ:EXFY) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Expensify (NASDAQ:EXFY) from a hold rating to a sell rating in a research note released on Saturday morning.

Separately, Weiss Ratings reaffirmed 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 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 Trading Up 0.2%

Shares of EXFY opened at $0.96 on Friday. The firm has a market capitalization of $77.83 million, a P/E ratio of -4.01 and a beta of 1.74. The firm has a 50-day moving average price of $1.34 and a 200 day moving average price of $1.57. Expensify has a 12-month low of $0.89 and a 12-month high of $3.78.

Expensify (NASDAQ:EXFY) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) EPS 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 business had revenue of $35.20 million during the quarter, compared to analyst estimates of $35.50 million.

Insider Buying and Selling at Expensify

In related news, CEO David Michael Barrett sold 30,000 shares of the business’s stock in a transaction on 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 owned 1,318,480 shares in the company, valued at approximately $1,911,796. The trade was a 2.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 110,393 shares of company stock valued at $165,459 over the last ninety days. Insiders own 12.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Expensify by 4.5% during the third quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company’s stock worth $8,406,000 after buying an additional 197,702 shares during the period. Acadian Asset Management LLC lifted its stake in Expensify by 46.1% in the second quarter. Acadian Asset Management LLC now owns 2,071,772 shares of the company’s stock worth $5,359,000 after acquiring an additional 653,260 shares during the last quarter. Marshall Wace LLP lifted its stake in Expensify by 5.7% in the fourth quarter. Marshall Wace LLP now owns 1,436,707 shares of the company’s stock worth $2,169,000 after acquiring an additional 76,833 shares during the last quarter. Millennium Management LLC grew its holdings in Expensify by 103.2% during the 1st quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock worth $4,276,000 after acquiring an additional 714,244 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Expensify by 134.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock worth $3,435,000 after acquiring an additional 759,982 shares in the last quarter. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

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.