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

Wall Street Zen cut shares of Expensify (NASDAQ:EXFY) from a hold rating to a sell rating in a research report released on Saturday.

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

Expensify Stock Performance

Shares of NASDAQ EXFY opened at $0.95 on Friday. Expensify has a 52-week low of $0.89 and a 52-week high of $3.60. The stock has a market cap of $76.85 million, a P/E ratio of -3.96 and a beta of 1.74. The firm has a 50 day moving average price of $1.33 and a 200 day moving average price of $1.56.

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

Insider Activity

In related news, CEO David Michael Barrett sold 30,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was 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 directly owned 1,318,480 shares of the company’s stock, valued at approximately $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 can be accessed through this link. In the last three months, insiders sold 110,393 shares of company stock valued at $165,459. 17.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock worth $3,435,000 after acquiring an additional 759,982 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Expensify by 103.2% during the first quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock worth $4,276,000 after acquiring an additional 714,244 shares during the period. Acadian Asset Management LLC lifted its position in Expensify by 46.1% in the 2nd quarter. Acadian Asset Management LLC now owns 2,071,772 shares of the company’s stock valued at $5,359,000 after acquiring an additional 653,260 shares in the last quarter. Globeflex Capital L P acquired a new position in Expensify in the 2nd quarter worth $845,000. Finally, Vanguard Group Inc. boosted its stake in Expensify by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company’s stock worth $8,406,000 after purchasing an additional 197,702 shares during the period. 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.