Expensify (NASDAQ:EXFY – Get Free Report) was upgraded by analysts at Citizens Jmp from a “market perform” rating to an “outperform” rating in a report released on Friday. The firm currently has a $3.00 target price on the stock. Citizens Jmp’s price target suggests a potential upside of 51.52% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Citigroup raised shares of Expensify from a “market outperform” rating to an “outperform” rating in a research report on Friday. Weiss Ratings upgraded Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.75.
Check Out Our Latest Analysis on Expensify
Expensify Trading Down 2.0%
Expensify (NASDAQ:EXFY – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The business had revenue of $33.97 million during the quarter, compared to the consensus estimate of $34.25 million. Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%.
Insider Transactions at Expensify
In other news, CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.15, for a total value of $34,500.00. Following the completion of the sale, the chief executive officer owned 1,228,480 shares in the company, valued at $1,412,752. This represents a 2.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.65% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in 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 purchasing an additional 714,244 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Expensify during the 1st quarter worth approximately $142,000. Geode Capital Management LLC lifted its position in shares of Expensify by 134.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock worth $3,435,000 after buying an additional 759,982 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Expensify by 22.0% in the 2nd quarter. American Century Companies Inc. now owns 121,441 shares of the company’s stock worth $315,000 after buying an additional 21,912 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Expensify in the second quarter valued at approximately $157,000. 68.42% of the stock is currently owned by hedge funds and other institutional investors.
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.
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