AppFolio (NASDAQ:APPF) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of AppFolio (NASDAQ:APPFGet Rating) from a strong sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “AppFolio, Inc. offers cloud-based software solutions for property management and legal industries. It offers AppFolio Property Manager, a solution for the property managers including activities of posting and tracking tenant vacancies, handling the entire leasing process electronically, administering maintenance and repairs with their vendor networks, managing accounting and reporting to property owners. MyCase solution for practitioners and small law firms, providing time tracking, billing and payments, client communication, coordination with other lawyers and support staff, legal document management and assembly and general office administration services. Value+ services include Websites and electronic payment services. AppFolio, Inc. is headquartered Goleta, California. “

A number of other brokerages also recently commented on APPF. StockNews.com began coverage on AppFolio in a research note on Thursday, March 31st. They issued a sell rating on the stock. KeyCorp upgraded AppFolio from a sector weight rating to an overweight rating and set a $143.00 target price on the stock in a research note on Friday, April 8th. Finally, Stephens upgraded AppFolio from an underweight rating to an equal weight rating and upped their target price for the stock from $105.00 to $107.00 in a research note on Tuesday, February 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, AppFolio currently has an average rating of Hold and an average target price of $124.00.

Shares of APPF stock opened at $102.78 on Tuesday. The company has a 50-day moving average price of $112.17. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 3,427.14 and a beta of 1.03. AppFolio has a fifty-two week low of $102.51 and a fifty-two week high of $150.78.

AppFolio (NASDAQ:APPFGet Rating) last announced its quarterly earnings data on Monday, February 28th. The software maker reported ($0.04) earnings per share for the quarter. The firm had revenue of $95.60 million during the quarter, compared to analyst estimates of $92.46 million. AppFolio had a net margin of 0.29% and a return on equity of 0.35%. During the same period in the prior year, the company posted ($0.01) earnings per share. On average, research analysts predict that AppFolio will post -0.01 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC purchased a new position in AppFolio during the first quarter worth approximately $4,105,000. OLD Mission Capital LLC purchased a new position in AppFolio during the third quarter worth approximately $270,000. Commonwealth Equity Services LLC boosted its position in AppFolio by 31.1% during the third quarter. Commonwealth Equity Services LLC now owns 1,874 shares of the software maker’s stock worth $225,000 after purchasing an additional 445 shares in the last quarter. SG Americas Securities LLC boosted its position in AppFolio by 273.1% during the third quarter. SG Americas Securities LLC now owns 11,856 shares of the software maker’s stock worth $1,427,000 after purchasing an additional 8,678 shares in the last quarter. Finally, Raymond James & Associates boosted its position in AppFolio by 2.0% during the third quarter. Raymond James & Associates now owns 4,283 shares of the software maker’s stock worth $516,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.

AppFolio Company Profile (Get Rating)

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.

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