Expensify (NASDAQ:EXFY) Announces Earnings Results, Misses Estimates By $0.08 EPS

Expensify (NASDAQ:EXFY) announced its quarterly earnings data on Thursday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.08), Zacks reports. Expensify had a negative net margin of 10.83% and a negative return on equity of 11.85%. The firm had revenue of $35.07 million for the quarter, compared to analysts’ expectations of $35.65 million.

Expensify Price Performance

Expensify stock traded down $0.20 during mid-day trading on Friday, reaching $1.37. The company had a trading volume of 705,448 shares, compared to its average volume of 420,498. The stock’s 50-day simple moving average is $1.78 and its 200-day simple moving average is $2.11. The company has a market capitalization of $110.35 million, a P/E ratio of -8.06 and a beta of 1.69. Expensify has a 1 year low of $1.35 and a 1 year high of $4.13.

Insider Activity at Expensify

In related news, COO Anuradha Muralidharan sold 25,245 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $1.94, for a total transaction of $48,975.30. Following the transaction, the chief operating officer directly owned 61,041 shares in the company, valued at approximately $118,419.54. This represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Michael Barrett sold 30,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $1.60, for a total value of $48,000.00. Following the sale, the chief executive officer 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. The SEC filing for this sale provides additional information. Insiders have sold 147,167 shares of company stock worth $270,131 in the last three months. Insiders own 12.27% of the company’s stock.

Hedge Funds Weigh In On Expensify

Large investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in shares of Expensify by 103.2% during 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Expensify in the first quarter worth approximately $142,000. Geode Capital Management LLC boosted its stake 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 valued at $3,435,000 after buying an additional 759,982 shares during the period. American Century Companies Inc. boosted its position in Expensify by 22.0% during the second quarter. American Century Companies Inc. now owns 121,441 shares of the company’s stock valued at $315,000 after purchasing an additional 21,912 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Expensify during the 2nd quarter valued at about $157,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EXFY shares. Wall Street Zen raised shares of Expensify from a “hold” rating to a “buy” rating in a report on Tuesday, August 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Expensify in a research report on Wednesday, October 8th. Finally, BMO Capital Markets lowered their price objective on Expensify from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Expensify has a consensus rating of “Hold” and a consensus target price of $4.00.

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.