Investment Analysts’ Recent Ratings Changes for AppFolio (APPF)

A number of firms have modified their ratings and price targets on shares of AppFolio (NASDAQ: APPF) recently:

  • 5/19/2022 – AppFolio was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 5/18/2022 – AppFolio was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 5/10/2022 – AppFolio was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 5/3/2022 – AppFolio was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. 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. “
  • 4/8/2022 – AppFolio was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $143.00 price target on the stock.
  • 3/31/2022 – AppFolio is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.

Shares of APPF traded up $4.05 during trading hours on Friday, hitting $97.34. The company had a trading volume of 173,130 shares, compared to its average volume of 136,105. AppFolio, Inc. has a 52-week low of $79.92 and a 52-week high of $150.78. The stock’s 50 day moving average price is $106.91 and its 200 day moving average price is $115.65. The firm has a market cap of $3.39 billion, a P/E ratio of -249.59 and a beta of 1.03.

AppFolio (NASDAQ:APPFGet Rating) last announced its quarterly earnings results on Monday, May 9th. The software maker reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.36). AppFolio had a negative return on equity of 4.72% and a negative net margin of 3.56%. During the same period in the previous year, the firm earned $0.01 earnings per share. On average, equities research analysts forecast that AppFolio, Inc. will post -1.6 earnings per share for the current fiscal year.

In other AppFolio news, Director Janet Kerr sold 550 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $92.61, for a total value of $50,935.50. Following the transaction, the director now owns 16,498 shares in the company, valued at $1,527,879.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 36.02% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of AppFolio in the 4th quarter worth approximately $19,116,000. Gobi Capital LLC grew its stake in AppFolio by 100.0% in the third quarter. Gobi Capital LLC now owns 295,948 shares of the software maker’s stock worth $35,632,000 after purchasing an additional 147,974 shares during the period. Nellore Capital Management LLC bought a new position in AppFolio in the first quarter worth $16,069,000. Skye Global Management LP lifted its position in AppFolio by 896.2% during the fourth quarter. Skye Global Management LP now owns 130,500 shares of the software maker’s stock valued at $15,798,000 after buying an additional 117,400 shares during the period. Finally, Long Walk Management LP boosted its holdings in shares of AppFolio by 37.2% during the 4th quarter. Long Walk Management LP now owns 358,737 shares of the software maker’s stock valued at $43,429,000 after buying an additional 97,210 shares in the last quarter. Institutional investors and hedge funds own 66.03% of the company’s stock.

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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