AppFolio, Inc. (NASDAQ:APPF) Receives $243.50 Consensus PT from Analysts

Shares of AppFolio, Inc. (NASDAQ:APPF) have been given an average rating of “Buy” by the twelve research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $243.50.

Several equities research analysts have recently commented on APPF shares. DA Davidson set a $225.00 price target on shares of AppFolio in a research report on Friday, July 24th. Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research note on Monday, July 6th. Zacks Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Guggenheim assumed coverage on shares of AppFolio in a report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 target price for the company.

AppFolio Stock Down 4.2%

AppFolio stock opened at $214.28 on Thursday. The business’s 50-day simple moving average is $192.56 and its 200 day simple moving average is $173.82. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 48.92 and a beta of 0.85. AppFolio has a 12-month low of $142.56 and a 12-month high of $288.73.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.02. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The firm had revenue of $281.12 million during the quarter, compared to analysts’ expectations of $277.35 million. During the same period in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts expect that AppFolio will post 5.17 EPS for the current year.

Insider Activity

In related news, major shareholder Maurice Duca sold 7,200 shares of AppFolio stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the completion of the sale, the insider directly owned 42,400 shares of the company’s stock, valued at $7,645,568. The trade was a 14.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 179,612 shares of company stock valued at $34,697,503. 1.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. Riverbridge Partners LLC bought a new stake in AppFolio in the first quarter valued at approximately $13,906,000. Quantum Capital Management LLC NJ bought a new position in shares of AppFolio during the fourth quarter worth $7,995,000. Principal Financial Group Inc. grew its holdings in shares of AppFolio by 6.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker’s stock valued at $289,880,000 after buying an additional 79,197 shares during the period. SG Americas Securities LLC grew its holdings in shares of AppFolio by 666.2% in the 1st quarter. SG Americas Securities LLC now owns 25,185 shares of the software maker’s stock valued at $3,975,000 after buying an additional 21,898 shares during the period. Finally, Royal Bank of Canada increased its position in shares of AppFolio by 19.6% in the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the software maker’s stock valued at $8,280,000 after buying an additional 8,582 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

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.