Brokerages Set AppFolio, Inc. (NASDAQ:APPF) Price Target at $306.00

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $306.00.

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of AppFolio in a research note on Thursday, January 15th. DA Davidson reaffirmed a “buy” rating and set a $325.00 price objective on shares of AppFolio in a report on Wednesday, November 19th. Weiss Ratings lowered shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, January 16th. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a report on Tuesday, December 16th. Finally, UBS Group began coverage on shares of AppFolio in a research report on Friday, December 12th. They set a “buy” rating and a $285.00 target price for the company.

Insider Activity

In related news, CFO Timothy Mathias Eaton sold 517 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $228.34, for a total transaction of $118,051.78. Following the transaction, the chief financial officer directly owned 10,104 shares of the company’s stock, valued at approximately $2,307,147.36. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Evan Pickering sold 334 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $243.67, for a total value of $81,385.78. Following the sale, the general counsel owned 2,969 shares of the company’s stock, valued at $723,456.23. The trade was a 10.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,745 shares of company stock worth $2,097,550 over the last three months. Corporate insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in AppFolio by 22.6% during the 1st quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock worth $9,993,000 after buying an additional 8,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AppFolio by 23.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after buying an additional 73 shares during the last quarter. Millennium Management LLC grew its stake in AppFolio by 237.7% in the 1st quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock valued at $3,970,000 after purchasing an additional 12,709 shares during the period. Jones Financial Companies Lllp raised its position in AppFolio by 164.8% in the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock worth $144,000 after acquiring an additional 407 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in AppFolio by 322.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after purchasing an additional 50,970 shares during the period. 85.19% of the stock is owned by institutional investors.

AppFolio Stock Down 1.3%

Shares of AppFolio stock opened at $216.06 on Wednesday. The stock has a market cap of $7.76 billion, a PE ratio of 38.79 and a beta of 0.78. AppFolio has a 12 month low of $190.24 and a 12 month high of $326.04. The business has a fifty day simple moving average of $228.22 and a 200-day simple moving average of $250.39.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 30th. The software maker reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 25.97%. The firm had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. During the same quarter last year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. Analysts expect that AppFolio will post 3.96 EPS for the current fiscal year.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.