Brokerages Set Expensify, Inc. (NASDAQ:EXFY) Price Target at $6.50

Expensify, Inc. (NASDAQ:EXFY - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $6.50.

Separately, Piper Sandler cut their price objective on shares of Expensify from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Friday, February 23rd.

Expensify Stock Performance

Shares of NASDAQ EXFY traded down $0.04 during midday trading on Thursday, hitting $1.58. 311,739 shares of the company traded hands, compared to its average volume of 655,730. Expensify has a 12-month low of $1.50 and a 12-month high of $8.69. The stock has a 50-day moving average price of $1.84 and a 200 day moving average price of $2.30. The firm has a market cap of $111.52 million, a P/E ratio of -3.10 and a beta of 1.49.

Expensify (NASDAQ:EXFY - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The company had revenue of $35.20 million for the quarter, compared to analysts' expectations of $36.85 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. Expensify's quarterly revenue was down 19.1% compared to the same quarter last year. As a group, equities analysts expect that Expensify will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Steven J. Mclaughlin bought 182,941 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was acquired at an average cost of $1.59 per share, with a total value of $290,876.19. Following the completion of the acquisition, the insider now owns 8,529,695 shares of the company's stock, valued at $13,562,215.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Steven J. Mclaughlin purchased 196,076 shares of Expensify stock in a transaction dated Friday, January 26th. The stock was purchased at an average cost of $1.76 per share, for a total transaction of $345,093.76. Following the completion of the purchase, the insider now directly owns 8,305,298 shares of the company's stock, valued at approximately $14,617,324.48. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Steven J. Mclaughlin purchased 182,941 shares of Expensify stock in a transaction dated Thursday, February 22nd. The stock was bought at an average price of $1.59 per share, with a total value of $290,876.19. Following the completion of the purchase, the insider now directly owns 8,529,695 shares of the company's stock, valued at $13,562,215.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 420,473 shares of company stock valued at $709,347 and sold 507,981 shares valued at $949,122. Corporate insiders own 20.32% of the company's stock.

Institutional Trading of Expensify

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of Expensify by 63.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 265,787 shares of the company's stock worth $656,000 after acquiring an additional 102,738 shares during the period. Virtu Financial LLC bought a new stake in shares of Expensify in the fourth quarter worth approximately $56,000. Barclays PLC grew its stake in shares of Expensify by 10.8% in the fourth quarter. Barclays PLC now owns 117,156 shares of the company's stock worth $289,000 after acquiring an additional 11,397 shares during the period. Occudo Quantitative Strategies LP grew its stake in shares of Expensify by 109.6% in the fourth quarter. Occudo Quantitative Strategies LP now owns 86,012 shares of the company's stock worth $212,000 after acquiring an additional 44,973 shares during the period. Finally, Prelude Capital Management LLC grew its position in Expensify by 17.7% during the fourth quarter. Prelude Capital Management LLC now owns 51,300 shares of the company's stock valued at $127,000 after buying an additional 7,700 shares during the period. 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.