BMO Capital Markets Lowers Expensify (NASDAQ:EXFY) Price Target to $2.50

Key Points

• BMO Capital Markets has lowered Expensify's stock price target from $3.00 to $2.50, indicating a potential upside of 28.87% from its previous closing price.
• The stock recently experienced a trading drop of 2.0% and is currently priced at $1.94, with a 1-year low of $1.51 and a high of $4.13.
• Expensify's insider activity shows CEO David Michael Barrett sold 30,000 shares at $1.94, reducing his ownership by 1.96%.

Expensify (NASDAQ:EXFY - Free Report) had its price objective lowered by BMO Capital Markets from $3.00 to $2.50 in a report published on Friday morning, MarketBeat.com reports. The brokerage currently has a market perform rating on the stock.

Several other research firms also recently issued reports on EXFY. Lake Street Capital cut their price objective on shares of Expensify from $5.00 to $4.50 and set a "buy" rating on the stock in a report on Friday, May 9th. Wall Street Zen downgraded shares of Expensify from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Expensify presently has a consensus rating of "Hold" and a consensus target price of $4.00.

Expensify Stock Up 1.4%

Shares of EXFY traded up $0.03 during mid-day trading on Friday, hitting $1.82. 628,991 shares of the company traded hands, compared to its average volume of 544,632. Expensify has a 1-year low of $1.60 and a 1-year high of $4.13. The company has a market capitalization of $145.89 million, a PE ratio of -11.34 and a beta of 1.72. The business has a 50 day moving average of $2.26 and a 200 day moving average of $2.79.

Insiders Place Their Bets

In related news, CEO David Michael Barrett sold 30,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $1.94, for a total value of $58,200.00. Following the transaction, the chief executive officer owned 1,498,480 shares in the company, valued at approximately $2,907,051.20. This represents a 1.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 113,609 shares of company stock valued at $256,206. 17.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Expensify

Several hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd increased its holdings in Expensify by 38.2% in the 1st quarter. R Squared Ltd now owns 18,790 shares of the company's stock worth $57,000 after buying an additional 5,190 shares during the period. OMERS ADMINISTRATION Corp boosted its position in Expensify by 4.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 125,800 shares of the company's stock worth $382,000 after purchasing an additional 5,700 shares in the last quarter. State of Wyoming boosted its position in Expensify by 13.3% in the 4th quarter. State of Wyoming now owns 52,364 shares of the company's stock worth $175,000 after purchasing an additional 6,138 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Expensify by 1,194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company's stock worth $36,000 after purchasing an additional 9,997 shares in the last quarter. Finally, Mariner LLC purchased a new stake in Expensify in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 68.42% of the company's stock.

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.