Expensify downgraded to Market Perform from Outperform at JMP Securities

JMP Securities analyst Aaron Kimson downgraded Expensify (EXFY) to Market Perform from Outperform without a price target The firm says its thesis has played out. The stock has increased 38% year-to-date, including a move of 94% since the open on August 9, the analyst tells investors in a research note. JMP sees the shares as fairly valued at current levels and awaits strategic progress from Expensify.