The Vanguard Group, Inc. has recently announced that it has increased stake in Expensify Inc. (NASDAQ:EXFY) by 58.52%. After grabbing 3.84 million shares, the institutional investor is now in possession of 1.42 million shares of the Technology Company. The new investment brought the stake of investor firm to 5.63% having worth around $33.91 million. Moreover, Massachusetts Financial Services increased its share by 79436.0 to have a control over 1.16 million shares. And Baillie Gifford & Co. raised its holdings to 1396.0 shares by acquiring 1.09 million shares or 1.59% of the stake.
Expensify Inc. (EXFY) concluded trading on 01/18/23 at a closing price of $8.98, with 0.2 million shares of worth about $1.81 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -53.85% during that period and on Wednesday the price saw a loss of about -0.22%. Currently the company’s common shares owned by public are about 80.94M shares, out of which, 38.49M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the EXFY stock and their offered price forecasts bring an average price target of $14.89. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.00 and could fall to a lowest price of $9.00. The stock’s current price level is 44.74% above of average price target set by the analysts, while a rise to estimated low would result in gain of 0.22% for the stock. However, touching the estimated high of $20.00 would mean a gain of 55.1% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 64 times over the past 12 months. They bought 216,289 shares in 43 of the transactions. In 21 selling transactions, insiders dumped 9,596,628 shares.
Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and MFS New Discovery Fund are the top 3 mutual funds which are holding stakes in Expensify Inc. Vanguard Total Stock Market Index is currently holding 1.23 million shares of worth totaling $10.83 million. The company recently came buying 0.0 shares which brought its stake up to 1.80% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 100.0 shares, after which its hold over company’s outstanding shares expand to 1.54%, leaving 1.05 million shares with the mutual fund that have a worth of about $9.3 million. MFS New Discovery Fund, after buying 0.75 million shares, have now control over 1.09% of the stake in the company. It holds 0.0 shares of worth $6.59 million.
Expensify Inc. (NASDAQ: EXFY) started trading at $9.10, above $0.1 from concluding price of the previous day. However, the stock later moved at a day high price of 9.11, or with a loss of -0.22%. Stock saw a price change of -3.54% in past 5 days and over the past one month there was a price change of -3.44%. Year-to-date (YTD), EXFY shares are showing a performance of 1.70% which decreased to -69.74% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.98 but also hit the highest price of $29.51 during that period. The average intraday trading volume for Expensify Inc. shares is 379.64K. The stock is currently trading 2.17% above its 20-day simple moving average (SMA20), while that difference is down -5.40% for SMA50 and it goes to -42.13% lower than SMA200.
The Vanguard Group, Inc. acquired 3.84 million shares of Expensify Inc. having value of about $33.91 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.42 million shares in the company valued at close to $12729356.54, or have control over 58.52% stake in the company. Expensify Inc. (NASDAQ: EXFY) currently have 80.94M outstanding shares and institutions hold larger chunk of about 47.10% of that. Holding of mutual funds in the company is about 14.21% while other institutional holders and individual stake holders have control over 18.75% and 13.38% of the stake respectively.
The stock has a current market capitalization of $696.31M. It has posted earnings per share of -$0.57 in the same period. It has Quick Ratio of 3.00 while making debt-to-equity ratio of 0.71. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EXFY, volatility over the week remained 4.31% while standing at 5.26% over the month.
Analysts are in expectations that Expensify Inc. (EXFY) stock would likely to be making an EPS of $0.08 in the current quarter, while forecast for next quarter EPS is $0.1 and it is $0.48 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.08 which is $0.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -70.70% while it is estimated to increase by 14.23% in next year.
Analysts at 9 brokerage firms have issued recommendations for the Expensify Inc. (EXFY)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 9 Wall Street analysts, 7 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on January 17, 2023 offering an Equal-weight rating for the stock and assigned a target price of $9 to it. Coverage by Lake Street stated Expensify Inc. (EXFY) stock as a Buy in their note to investors on December 07, 2022, suggesting a price target of $12 for the stock. On November 11, 2022, Piper Sandler Downgrade their recommendations, while on September 01, 2022, Citigroup Resumed their ratings for the stock with a price target of $25. Stock get a Buy rating from Loop Capital on August 11, 2022.