Expensify (NASDAQ:EXFY) Price Target Lowered to $4.00 at Citigroup

Expensify (NASDAQ:EXFY - Get Free Report) had its target price reduced by analysts at Citigroup from $5.00 to $4.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 158.90% from the stock's current price.

Separately, Piper Sandler lowered their price target on Expensify from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.93.

Expensify Stock Down 9.1 %

NASDAQ:EXFY traded down $0.16 on Tuesday, hitting $1.55. The stock had a trading volume of 414,537 shares, compared to its average volume of 637,863. The company has a fifty day moving average price of $1.80 and a two-hundred day moving average price of $2.14. Expensify has a 1-year low of $1.40 and a 1-year high of $8.47. The stock has a market cap of $109.05 million, a price-to-earnings ratio of -3.11 and a beta of 1.49.

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

Insider Activity

In related news, COO Anuradha Muralidharan sold 16,584 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $2.14, for a total transaction of $35,489.76. Following the completion of the transaction, the chief operating officer now directly owns 77,080 shares in the company, valued at approximately $164,951.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Anuradha Muralidharan sold 16,584 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $2.14, for a total transaction of $35,489.76. Following the sale, the chief operating officer now directly owns 77,080 shares of the company's stock, valued at approximately $164,951.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Steven J. Mclaughlin purchased 248,712 shares of the firm's stock in a transaction on Monday, April 15th. The stock was acquired at an average cost of $1.43 per share, with a total value of $355,658.16. Following the transaction, the insider now directly owns 8,778,407 shares in the company, valued at $12,553,122.01. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 804,343 shares of company stock valued at $1,267,742 and sold 621,107 shares valued at $1,122,655. Insiders own 20.32% of the company's stock.

Institutional Investors Weigh In On Expensify

Several large investors have recently bought and sold shares of EXFY. Quadrature Capital Ltd purchased a new position in shares of Expensify in the 3rd quarter valued at about $35,000. Corton Capital Inc. acquired a new stake in Expensify in the third quarter valued at approximately $37,000. FNY Investment Advisers LLC lifted its stake in Expensify by 212.5% in the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company's stock worth $30,000 after acquiring an additional 8,500 shares during the last quarter. SG Americas Securities LLC acquired a new position in Expensify during the 3rd quarter worth approximately $51,000. Finally, Azora Capital LP purchased a new stake in shares of Expensify in the 4th quarter valued at approximately $61,000. Hedge funds and other institutional investors 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.