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EXFY - Expensify: Poor Execution And Outlook (Rating Downgrade)
Expensify Inc.
2024-03-05 09:49:17 ET
Summary
I am downgrading my rating for Expensify from buy to neutral due to continued execution issues and a weak near-term outlook.
Expensify's share price has fallen significantly in the past year, and the company has consistently missed expectations.
The transition to the new Expensify platform holds long-term potential, but repeated execution failures and the uncertain macro environment dampen expectations. Investors should remain cautious.