Expensify (NASDAQ:EXFY) Posts Earnings Results, Misses Expectations By $0.12 EPS

Expensify (NASDAQ:EXFY) announced its quarterly earnings results on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12), Briefing.com reports. The firm had revenue of $33.50 million for the quarter, compared to analyst estimates of $35.56 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share.

Expensify Stock Performance

Shares of Expensify stock traded down $0.01 during trading on Friday, reaching $1.77. The company’s stock had a trading volume of 461,991 shares, compared to its average volume of 626,946. The business’s fifty day moving average price is $1.77 and its 200-day moving average price is $2.03. Expensify has a one year low of $1.40 and a one year high of $8.25. The firm has a market cap of $124.93 million, a price-to-earnings ratio of -3.47 and a beta of 1.48.

Analyst Upgrades and Downgrades

EXFY has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Citigroup cut their target price on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.93.

Insider Buying and Selling at Expensify

In other news, CEO David Michael Barrett sold 14,530 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $1.73, for a total transaction of $25,136.90. Following the completion of the transaction, the chief executive officer now directly owns 906,249 shares in the company, valued at $1,567,810.77. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Steven J. Mclaughlin bought 418,446 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were acquired at an average cost of $1.56 per share, with a total value of $652,775.76. Following the completion of the transaction, the insider now directly owns 9,434,282 shares in the company, valued at $14,717,479.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Michael Barrett sold 14,530 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $1.73, for a total transaction of $25,136.90. Following the completion of the transaction, the chief executive officer now directly owns 906,249 shares of the company’s stock, valued at approximately $1,567,810.77. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,014,740 shares of company stock valued at $1,549,045 and have sold 725,107 shares valued at $1,295,223. Insiders own 20.32% of the company’s stock.

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.