Expensify (NASDAQ:EXFY) Stock Jumps 2.4% - Should You Buy?

Key Points

• Expensify shares rose 2.4% to $2.61, with trading volume 17% above the average daily volume.
• Analyst opinions remain mixed: two analysts rate the stock a Buy and one rates it a Sell, resulting in a consensus “Hold” rating and an average price target of $3.00.
• The company remains unprofitable, reporting a quarterly loss of $0.04 per share versus the expected $0.02 profit, despite revenue of $33.87 million slightly exceeding estimates.

Expensify, Inc. (NASDAQ:EXFY - Get Free Report)'s share price was up 2.4% during trading on Wednesday. The stock traded as high as $2.67 and last traded at $2.61. 521,802 shares traded hands during trading, an increase of 17% from the average daily volume of 445,798 shares. The stock had previously closed at $2.55.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EXFY. Wall Street Zen raised Expensify from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Citigroup raised Expensify from a "market outperform" rating to an "outperform" rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Expensify in a research report on Monday, September 28th. Finally, Citizens Jmp raised Expensify from a "market perform" rating to an "outperform" rating and set a $3.00 target price for the company in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $3.00.

Expensify Price Performance

The firm has a 50-day moving average of $2.38 and a 200 day moving average of $1.74. The stock has a market capitalization of $206.03 million, a price-to-earnings ratio of -15.35 and a beta of 1.73.

Expensify (NASDAQ:EXFY - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). The firm had revenue of $33.87 million during the quarter, compared to the consensus estimate of $33.70 million. Expensify had a negative net margin of 11.31% and a negative return on equity of 11.54%.

Institutional Investors Weigh In On Expensify

Several hedge funds have recently bought and sold shares of EXFY. Howard Financial Services LTD. acquired a new stake in Expensify during the third quarter worth approximately $27,000. Renaissance Technologies LLC raised its stake in Expensify by 6.7% in the first quarter. Renaissance Technologies LLC now owns 725,000 shares of the company's stock valued at $631,000 after purchasing an additional 45,400 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Expensify during the second quarter worth about $198,000. Finally, Pale Fire Capital SE acquired a new stake in Expensify during the first quarter worth about $418,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

About Expensify

Expensify, Inc develops cloud-based software for expense management and business payments. Its platform enables users and organizations to capture receipts, create and submit expense reports, automate approval workflows, and reimburse employees. Expensify also provides tools for invoicing, bill payment, corporate cards, and accounting-related processes.

The company's services are designed for individuals, small and midsize businesses, enterprises, accountants, and other organizations seeking to automate financial administration.

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