Expensify (NASDAQ:EXFY) Stock Price Expected to Rise, Citigroup Analyst Says

Expensify (NASDAQ:EXFY) had its price target upped by research analysts at Citigroup from $4.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 29.53% from the stock’s previous close.

Separately, JMP Securities downgraded Expensify from an “outperform” rating to a “market perform” rating in a report on Monday, November 25th.

Expensify Stock Up 1.6 %

EXFY stock opened at $3.86 on Monday. Expensify has a 52 week low of $1.24 and a 52 week high of $4.13. The company has a market cap of $297.82 million, a price-to-earnings ratio of -21.44 and a beta of 1.90. The business has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $2.16.

Insider Transactions at Expensify

In other news, CEO David Michael Barrett sold 58,226 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $2.76, for a total value of $160,703.76. Following the completion of the sale, the chief executive officer now owns 2,508,867 shares of the company’s stock, valued at $6,924,472.92. This represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Anuradha Muralidharan sold 29,410 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.40, for a total value of $99,994.00. Following the completion of the sale, the chief operating officer now owns 3,941 shares of the company’s stock, valued at approximately $13,399.40. This trade represents a 88.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 166,423 shares of company stock valued at $475,488 over the last 90 days. Corporate insiders own 17.33% of the company’s stock.

Institutional Investors Weigh In On Expensify

A number of large investors have recently added to or reduced their stakes in EXFY. Geode Capital Management LLC lifted its holdings in Expensify by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 514,948 shares of the company’s stock worth $1,010,000 after buying an additional 52,385 shares in the last quarter. XTX Topco Ltd increased its position in shares of Expensify by 29.6% during the third quarter. XTX Topco Ltd now owns 68,789 shares of the company’s stock worth $135,000 after acquiring an additional 15,730 shares during the last quarter. RBF Capital LLC lifted its stake in shares of Expensify by 10.9% in the third quarter. RBF Capital LLC now owns 482,754 shares of the company’s stock worth $946,000 after acquiring an additional 47,389 shares in the last quarter. Walleye Capital LLC boosted its holdings in Expensify by 42.1% in the third quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock valued at $1,183,000 after purchasing an additional 178,911 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Expensify by 100.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after purchasing an additional 22,504 shares in the last quarter. 68.42% of the stock is owned by institutional investors and hedge funds.

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.