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

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

Several other equities analysts have also weighed in on EXFY. Lake Street Capital cut their target price on Expensify from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, May 9th. BMO Capital Markets cut their target price on Expensify from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Expensify currently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Expensify Trading Down 3.3%

EXFY opened at $1.75 on Tuesday. Expensify has a 1 year low of $1.6001 and a 1 year high of $4.13. The stock has a fifty day moving average price of $2.20 and a 200 day moving average price of $2.72. The stock has a market cap of $140.96 million, a price-to-earnings ratio of -10.94 and a beta of 1.72.

Insider Activity at Expensify

In related news, CEO David Michael Barrett sold 30,000 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $1.94, for a total transaction of $58,200.00. Following the transaction, the chief executive officer directly owned 1,498,480 shares in the company, valued at $2,907,051.20. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 83,609 shares of company stock valued at $185,706 in the last 90 days. Insiders own 17.33% of the company’s stock.

Hedge Funds Weigh In On Expensify

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXFY. JPMorgan Chase & Co. boosted its holdings in Expensify by 35.0% during the fourth quarter. JPMorgan Chase & Co. now owns 215,933 shares of the company’s stock valued at $723,000 after purchasing an additional 55,931 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Expensify by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 544,680 shares of the company’s stock valued at $1,825,000 after purchasing an additional 29,732 shares in the last quarter. Barclays PLC boosted its holdings in Expensify by 113.6% during the fourth quarter. Barclays PLC now owns 127,834 shares of the company’s stock valued at $428,000 after purchasing an additional 67,987 shares in the last quarter. Mariner LLC acquired a new stake in Expensify during the fourth quarter valued at approximately $34,000. Finally, Marshall Wace LLP boosted its holdings in Expensify by 72.0% during the fourth quarter. Marshall Wace LLP now owns 1,439,877 shares of the company’s stock valued at $4,824,000 after purchasing an additional 602,565 shares in the last quarter. 68.42% of the stock is currently 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.