Expensify (NASDAQ:EXFY) Cut to Sell at Wall Street Zen

Key Points

• Expensify was downgraded by Wall Street Zen from "hold" to sell, and Weiss Ratings reaffirmed a "sell (d-)," while analyst coverage is mixed (1 Buy / 1 Hold / 1 Sell) with an average price target of $3.50.
• The company missed its latest quarter—reporting ($0.08) EPS vs. $0.05 expected and $35.2M revenue vs. $35.5M expected—and remains unprofitable with negative net margin and ROE; the stock trades near $0.96 with a market cap around $77.8M.
• Insiders have been selling shares (CEO sold 30,000 shares; 110,393 shares sold in the last 90 days) even as institutional investors hold about 68.4% of the company, suggesting mixed signals on confidence.

Expensify (NASDAQ:EXFY - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Expensify in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $3.50.

Expensify Stock Up 0.2%

EXFY stock opened at $0.96 on Friday. Expensify has a twelve month low of $0.89 and a twelve month high of $3.78. The firm has a market cap of $77.83 million, a PE ratio of -4.01 and a beta of 1.74. The business has a 50 day moving average of $1.34 and a 200 day moving average of $1.57.

Expensify (NASDAQ:EXFY - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.13). Expensify had a negative return on equity of 16.00% and a negative net margin of 15.05%.The company had revenue of $35.20 million during the quarter, compared to the consensus estimate of $35.50 million.

Insider Activity

In other news, CEO David Michael Barrett sold 30,000 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.45, for a total transaction of $43,500.00. Following the completion of the sale, the chief executive officer owned 1,318,480 shares of the company's stock, valued at $1,911,796. This represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 110,393 shares of company stock worth $165,459. Insiders own 12.27% of the company's stock.

Hedge Funds Weigh In On Expensify

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Expensify by 4.5% during the third quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company's stock valued at $8,406,000 after buying an additional 197,702 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Expensify by 46.1% during the 2nd quarter. Acadian Asset Management LLC now owns 2,071,772 shares of the company's stock worth $5,359,000 after acquiring an additional 653,260 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Expensify by 5.7% during the 4th quarter. Marshall Wace LLP now owns 1,436,707 shares of the company's stock worth $2,169,000 after acquiring an additional 76,833 shares during the last quarter. Millennium Management LLC grew its position 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 valued at $4,276,000 after acquiring an additional 714,244 shares during the period. Finally, Geode Capital Management LLC grew 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 valued at $3,435,000 after acquiring an additional 759,982 shares during the period. Hedge funds and other institutional investors own 68.42% of the company's stock.

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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