Expensify (NASDAQ:EXFY) Raised to Buy at Wall Street Zen

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

EXFY has been the topic of a number of other reports. Citizens Jmp upgraded shares of Expensify from a “market perform” rating to an “outperform” rating and set a $3.00 price objective on the stock in a research note on Friday, August 7th. Weiss Ratings raised shares of Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Finally, Citigroup upgraded shares of Expensify from a “market outperform” rating to an “outperform” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.00.

Expensify Price Performance

EXFY stock opened at $2.30 on Friday. The company has a fifty day moving average price of $1.75 and a 200 day moving average price of $1.30. Expensify has a 12 month low of $0.69 and a 12 month high of $2.81. The company has a market cap of $181.56 million, a price-to-earnings ratio of -13.53 and a beta of 1.67.

Insider Activity at Expensify

In related news, CEO David Michael Barrett sold 30,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1.15, for a total transaction of $34,500.00. Following the completion of the sale, the chief executive officer directly owned 1,228,480 shares of the company’s stock, valued at $1,412,752. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Expensify

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of Expensify by 103.2% in 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 during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Expensify during the first quarter worth about $142,000. Geode Capital Management LLC raised its holdings in Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock worth $3,435,000 after purchasing an additional 759,982 shares in the last quarter. American Century Companies Inc. raised its holdings in Expensify by 22.0% during the second quarter. American Century Companies Inc. now owns 121,441 shares of the company’s stock worth $315,000 after purchasing an additional 21,912 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Expensify during the second quarter worth about $157,000. 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.