Brokerages Set AppFolio, Inc. (NASDAQ:APPF) PT at $270.83

Shares of AppFolio, Inc. (NASDAQ:APPF) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $270.8333.

A number of research firms recently commented on APPF. Keefe, Bruyette & Woods decreased their price objective on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. KeyCorp reissued an “overweight” rating on shares of AppFolio in a research note on Monday, February 2nd. DA Davidson lowered their price target on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Piper Sandler dropped their price objective on AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, UBS Group set a $260.00 price objective on AppFolio and gave the company a “buy” rating in a research note on Friday, January 30th.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $172.50 on Thursday. The firm has a market capitalization of $6.21 billion, a P/E ratio of 44.46 and a beta of 0.75. AppFolio has a one year low of $161.13 and a one year high of $326.04. The company’s fifty day moving average is $195.40 and its two-hundred day moving average is $229.94.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.17. The business had revenue of $248.19 million for the quarter, compared to analysts’ expectations of $246.56 million. AppFolio had a net margin of 14.82% and a return on equity of 29.79%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. On average, sell-side analysts forecast that AppFolio will post 3.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total value of $1,181,829.99. Following the completion of the transaction, the chief executive officer owned 52,920 shares in the company, valued at $8,982,111.60. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in AppFolio by 101.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Root Financial Partners LLC purchased a new position in AppFolio during the 3rd quarter valued at about $31,000. TD Private Client Wealth LLC raised its position in AppFolio by 2,116.7% during the third quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock worth $37,000 after acquiring an additional 127 shares during the last quarter. First Horizon Corp purchased a new stake in shares of AppFolio in the third quarter valued at about $39,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of AppFolio by 373.3% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock valued at $39,000 after purchasing an additional 112 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

About AppFolio

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.