Expensify (NASDAQ:EXFY) Upgraded at Wall Street Zen

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

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

Expensify Trading Up 9.4%

Shares of EXFY stock opened at $0.91 on Friday. Expensify has a 1 year low of $0.69 and a 1 year high of $3.60. The firm’s 50 day moving average is $1.20 and its 200-day moving average is $1.48. The firm has a market capitalization of $73.84 million, a price-to-earnings ratio of -3.80 and a beta of 1.74.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $35.50 million.

Insider Activity

In other news, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.45, for a total transaction of $43,500.00. Following the completion of the sale, the chief executive officer owned 1,318,480 shares in the company, valued at $1,911,796. The trade was a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Steven J. Mclaughlin purchased 500,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average price of $0.84 per share, with a total value of $420,000.00. Following the transaction, the insider owned 12,203,393 shares in the company, valued at $10,250,850.12. This trade represents a 4.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 2,263,444 shares of company stock worth $2,132,976 and sold 94,004 shares worth $140,056. 17.33% of the stock is currently owned by company insiders.

Institutional Trading of Expensify

A number of institutional investors have recently bought and sold shares of the business. Abel Hall LLC bought a new stake in shares of Expensify during the 4th quarter valued at $25,000. SG Americas Securities LLC bought a new position in shares of Expensify in the 4th quarter worth $27,000. Savant Capital LLC acquired a new stake in shares of Expensify during the third quarter worth $30,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Expensify in the second quarter valued at about $32,000. Finally, ProShare Advisors LLC bought a new stake in Expensify in the second quarter valued at about $32,000. Institutional investors and hedge funds 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.