Expensify (NASDAQ:EXFY) PT Lowered to $4.00 at Citigroup

Expensify (NASDAQ:EXFY) had its price objective decreased by Citigroup from $5.00 to $4.00 in a research note published on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Separately, Piper Sandler lowered their target price on shares of Expensify from $3.00 to $2.00 and set a neutral rating for the company in a report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Expensify has an average rating of Hold and a consensus target price of $5.93.

Expensify Price Performance

Shares of EXFY opened at $1.63 on Tuesday. Expensify has a one year low of $1.40 and a one year high of $8.25. The company has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $2.12. The firm has a market capitalization of $115.05 million, a PE ratio of -3.20 and a beta of 1.49.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Expensify had a negative return on equity of 41.91% and a negative net margin of 27.70%. The company had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $36.85 million. During the same quarter last year, the business earned ($0.04) earnings per share. The business’s quarterly revenue was down 19.1% on a year-over-year basis. Analysts expect that Expensify will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO David Michael Barrett sold 80,082 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $1.97, for a total value of $157,761.54. Following the completion of the transaction, the chief executive officer now directly owns 1,967,748 shares in the company, valued at approximately $3,876,463.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO David Michael Barrett sold 80,082 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $1.97, for a total value of $157,761.54. Following the completion of the transaction, the chief executive officer now directly owns 1,967,748 shares in the company, valued at approximately $3,876,463.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Steven J. Mclaughlin bought 182,941 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was bought at an average cost of $1.59 per share, with a total value of $290,876.19. Following the transaction, the insider now owns 8,529,695 shares in the company, valued at approximately $13,562,215.05. The disclosure for this purchase can be found here. In the last three months, insiders bought 608,267 shares of company stock worth $922,648 and sold 637,017 shares worth $1,147,475. 20.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Expensify

A number of large investors have recently added to or reduced their stakes in EXFY. SVB Wealth LLC grew its position in Expensify by 63.9% in the 4th quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock worth $8,297,000 after purchasing an additional 1,309,037 shares during the period. Walleye Capital LLC grew its position in Expensify by 396.1% in the 3rd quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock worth $2,322,000 after purchasing an additional 570,495 shares during the period. Palogic Value Management L.P. grew its position in shares of Expensify by 33.3% during the 4th quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock valued at $1,976,000 after acquiring an additional 200,000 shares during the period. Federated Hermes Inc. grew its position in shares of Expensify by 57,044.0% during the 4th quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock valued at $398,000 after acquiring an additional 160,864 shares during the period. Finally, Ceera Investments LLC bought a new stake in shares of Expensify during the 4th quarter valued at $309,000. Institutional investors own 68.42% of the company’s stock.

About Expensify

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.