Expensify (NASDAQ:EXFY) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Expensify (NASDAQ:EXFY) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also commented on the company. Weiss Ratings upgraded Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 1st. Citizens Jmp upgraded 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. Finally, Citigroup upgraded Expensify from a “market outperform” rating to an “outperform” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.00.

Expensify Price Performance

Expensify stock opened at $2.30 on Friday. Expensify has a fifty-two week low of $0.69 and a fifty-two week high of $2.81. The firm has a fifty day moving average price of $1.75 and a two-hundred day moving average price of $1.30. The firm has a market cap of $181.56 million, a price-to-earnings ratio of -13.53 and a beta of 1.67.

Insider Buying and Selling

In related news, CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.15, for a total transaction of $34,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,228,480 shares in the company, valued at $1,412,752. This represents a 2.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.65% of the stock is currently owned by insiders.

Institutional Trading of Expensify

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Abel Hall LLC acquired a new position in shares of Expensify during the fourth quarter valued at about $25,000. SG Americas Securities LLC bought a new stake in shares of Expensify in the fourth quarter valued at about $27,000. Franklin Resources Inc. acquired a new stake in Expensify during the third quarter worth about $34,000. Balyasny Asset Management L.P. grew its position in Expensify by 126.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 31,615 shares of the company’s stock worth $48,000 after buying an additional 17,634 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. bought a new position in Expensify during the fourth quarter valued at about $49,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

About Expensify

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.