Expensify (NASDAQ:EXFY) Upgraded at Wall Street Zen

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

EXFY has been the topic of several other reports. Citizens Jmp upgraded shares of Expensify from a “market perform” rating to an “outperform” rating and set a $3.00 price objective on the stock in a report on Friday, August 7th. Citigroup upgraded shares of Expensify from a “market outperform” rating to an “outperform” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

Expensify Price Performance

EXFY opened at $2.27 on Friday. The stock has a market capitalization of $179.19 million, a price-to-earnings ratio of -13.35 and a beta of 1.67. The business has a 50-day moving average of $1.77 and a two-hundred day moving average of $1.31. Expensify has a 12 month low of $0.69 and a 12 month high of $2.81.

Insider Activity at Expensify

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

Institutional Trading of Expensify

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its position in Expensify by 103.2% during the 1st quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock worth $4,276,000 after purchasing an additional 714,244 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Expensify during the first quarter valued at approximately $142,000. Geode Capital Management LLC lifted its position in Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock valued at $3,435,000 after buying an additional 759,982 shares in the last quarter. American Century Companies Inc. lifted its position in Expensify by 22.0% during the second quarter. American Century Companies Inc. now owns 121,441 shares of the company’s stock valued at $315,000 after buying an additional 21,912 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Expensify during the second quarter worth approximately $157,000. Hedge funds and other 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.