AppFolio, Inc. (NASDAQ:APPF) Stock Rated “Moderate Buy” by Sell-Side Analysts

by · The Markets Daily

Shares of AppFolio, Inc. (NASDAQ:APPF – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $248.50.

A number of analysts have recently commented on the company. Guggenheim began coverage on AppFolio in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $232.00 price target on the stock. KeyCorp lifted their price target on shares of AppFolio from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, September 17th. DA Davidson set a $240.00 price objective on AppFolio in a report on Monday. Zacks Research cut shares of AppFolio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 23rd. Finally, Weiss Ratings upgraded AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th.

Check Out Our Latest Analysis on APPF

AppFolio Stock Performance

NASDAQ APPF opened at $202.97 on Monday. The company has a market capitalization of $7.19 billion, a P/E ratio of 46.34 and a beta of 0.89. AppFolio has a 52-week low of $142.56 and a 52-week high of $265.02. The company has a fifty day moving average of $207.45 and a 200-day moving average of $178.12.

AppFolio (NASDAQ:APPF – Get Free Report) last posted its quarterly earnings results 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 net margin of 15.13% and a return on equity of 32.42%. The business had revenue of $281.12 million during the quarter, compared to the consensus estimate of $277.35 million. During the same period in the previous year, the firm posted $1.38 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts forecast that AppFolio will post 5.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Maurice Duca sold 7,200 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $181.72, for a total value of $1,308,384.00. Following the completion of the transaction, the insider directly owned 34,198 shares of the company’s stock, valued at approximately $6,214,460.56. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 176,217 shares of company stock worth $34,157,323 over the last three months. 1.57% of the stock is currently owned by corporate insiders.

Institutional Trading of AppFolio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of AppFolio by 20.9% during the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock valued at $237,665,000 after acquiring an additional 259,933 shares in the last quarter. Geode Capital Management LLC boosted its stake in AppFolio by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 472,491 shares of the software maker’s stock valued at $109,947,000 after acquiring an additional 11,588 shares in the last quarter. Nellore Capital Management LLC boosted its position in shares of AppFolio by 2.9% in the 2nd quarter. Nellore Capital Management LLC now owns 654,865 shares of the software maker’s stock worth $105,008,000 after purchasing an additional 18,563 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of AppFolio by 6.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 384,529 shares of the software maker’s stock worth $60,686,000 after acquiring an additional 23,428 shares during the last quarter. Finally, Bank of America Corp DE grew its position in AppFolio by 21.7% during the 1st quarter. Bank of America Corp DE now owns 345,603 shares of the software maker’s stock worth $54,543,000 after purchasing an additional 61,641 shares during the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.

About AppFolio

(Get Free Report)

AppFolio, Inc (NASDAQ:APPF) develops cloud-based software and technology solutions for the real estate industry. Its platform is designed primarily for property managers and real estate businesses, helping them manage operations, accounting, leasing, maintenance, communication, payments and other property-related workflows from a centralized system.

The company’s offerings include AppFolio Property Manager and related services for residential, commercial and community association properties.

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