AppFolio (NASDAQ:APPF) Upgraded by DA Davidson to “Buy”

DA Davidson upgraded shares of AppFolio (NASDAQ:APPF) from a neutral rating to a buy rating in a research note published on Thursday morning, FlyOnTheWall reports. DA Davidson currently has $230.00 target price on the software maker’s stock.

A number of other research analysts also recently weighed in on the company. William Blair raised AppFolio from a market perform rating to an outperform rating in a research note on Monday. JPMorgan Chase & Co. started coverage on AppFolio in a research report on Thursday, August 17th. They set an overweight rating and a $200.00 target price for the company. Stephens raised AppFolio from an equal weight rating to an overweight rating and upped their price target for the company from $184.00 to $212.00 in a research note on Monday, August 21st. KeyCorp lifted their price objective on shares of AppFolio from $190.00 to $210.00 and gave the stock an overweight rating in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on shares of AppFolio in a research note on Thursday, August 17th. They issued a hold rating for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $196.40.

AppFolio Stock Up 0.3 %

Shares of APPF opened at $192.77 on Thursday. The stock’s fifty day simple moving average is $177.85 and its 200-day simple moving average is $150.71. The firm has a market capitalization of $6.87 billion, a PE ratio of -87.62 and a beta of 0.98. AppFolio has a 12-month low of $93.02 and a 12-month high of $196.80.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 27th. The software maker reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.63). The business had revenue of $147.08 million during the quarter, compared to the consensus estimate of $143.76 million. AppFolio had a negative net margin of 14.63% and a negative return on equity of 31.03%. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period last year, the business posted ($0.86) EPS. Analysts anticipate that AppFolio will post -0.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Janet Kerr sold 250 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $172.46, for a total value of $43,115.00. Following the completion of the transaction, the director now directly owns 16,876 shares of the company’s stock, valued at $2,910,434.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppFolio

Several hedge funds have recently bought and sold shares of APPF. Altshuler Shaham Ltd acquired a new position in AppFolio during the first quarter worth approximately $30,000. First Horizon Advisors Inc. boosted its stake in shares of AppFolio by 2,922.2% during the 1st quarter. First Horizon Advisors Inc. now owns 272 shares of the software maker’s stock worth $34,000 after acquiring an additional 263 shares during the period. Dark Forest Capital Management LP boosted its stake in shares of AppFolio by 1,472.2% during the 4th quarter. Dark Forest Capital Management LP now owns 283 shares of the software maker’s stock worth $30,000 after acquiring an additional 265 shares during the period. Federated Hermes Inc. acquired a new position in shares of AppFolio during the 1st quarter worth approximately $39,000. Finally, Assetmark Inc. bought a new position in AppFolio during the first quarter worth $45,000. 48.96% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Company Profile

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.