Expensify (NASDAQ:EXFY) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Expensify (NASDAQ:EXFY) from a buy rating to a hold rating in a report published on Saturday morning.

Other analysts have also issued reports about the stock. BMO Capital Markets dropped their price target on shares of Expensify from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Expensify in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Expensify currently has a consensus rating of “Hold” and a consensus target price of $4.00.

Expensify Stock Performance

EXFY opened at $1.52 on Friday. Expensify has a 52-week low of $1.33 and a 52-week high of $4.13. The firm has a market capitalization of $122.88 million, a PE ratio of -8.94 and a beta of 1.69. The business’s 50-day simple moving average is $1.74 and its 200 day simple moving average is $2.06.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The company had revenue of $35.07 million during the quarter, compared to the consensus estimate of $35.65 million. Expensify had a negative net margin of 10.83% and a negative return on equity of 11.75%.

Insiders Place Their Bets

In other news, COO Anuradha Muralidharan sold 25,245 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $1.94, for a total transaction of $48,975.30. Following the completion of the sale, the chief operating officer owned 61,041 shares in the company, valued at approximately $118,419.54. This trade represents a 29.26% decrease in their position. The transaction 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, November 3rd. The stock was sold at an average price of $1.60, for a total transaction of $48,000.00. Following the sale, the chief executive officer directly owned 1,408,480 shares of the company’s stock, valued at $2,253,568. The trade was a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 147,167 shares of company stock valued at $270,131 over the last ninety days. 12.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Kapitalo Investimentos Ltda acquired a new stake in Expensify during the second quarter worth approximately $30,000. ProShare Advisors LLC bought a new position in shares of Expensify during the second quarter worth approximately $32,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Expensify during the 2nd quarter worth approximately $32,000. Virtu Financial LLC bought a new stake in Expensify in the 1st quarter valued at $41,000. Finally, Heron Bay Capital Management bought a new stake in Expensify in the 2nd quarter valued at $37,000. 68.42% of the stock is owned by institutional investors.

Expensify Company Profile

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises in the United States and internationally. The company’s platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.