Citizens Reiterates Market Perform Rating on Expensify Inc (EXFY): 'Shares Fairly Valued'

Citizens analyst Aaron Kimson reiterated a Market Perform rating on Expensify Inc (NASDAQ: EXFY).

The analyst commented, "We maintain our Market Perform rating on Expensify after a Form 4 filed Thursday disclosed that Steve McLaughlin acquired an additional 2.3M shares at an average cost of $0.94 per share between March 3 and March 11, and after hosting Founder & CEO David Barrett for a fireside chat at the Citizens Technology Conference on March 2 — and after the stock has declined 77% over the TTM versus up 18% for the Russell 300 over the same time period...Expensify currently trades at less than 1x EV/FCF, a substantial discount to the peer group that we believe is justified by the company's slower relative growth rate in a difficult macro environment, its small scale of operations, and the intense competitive environment for expense management and travel software. Therefore, we see the shares as fairly valued at current levels."

For an analyst ratings summary and ratings history on Expensify Inc click here. For more ratings news on Expensify Inc click here.

Shares of Expensify Inc closed at $0.77 yesterday.

You May Also Be Interested In

• Tesla Crash Into Texas Home Now Under Federal Safety Probe - WSJ
• Jefferies explains Alphabet (GOOGL) selloff: 1. Exec departures 2. Mag7 softness ahead of AI IPOs 3. Multiple normalization
• Lockheed Martin wins $83 million Army missile contract