Expensify price target lowered to $4.50 from $5 at Lake Street

Lake Street analyst Eric Martinuzzi lowered the firm’s price target on Expensify (EXFY) to $4.50 from $5 and keeps a Buy rating on the shares after Q1 results came in “slightly below on revenue and well below on AEBITDA.” The firm expects 2025 will be “another year of solid cash generation,” but a challenging macro environment continues to show in the contraction of the paid membership count.