AppFolio, Inc. (NASDAQ:APPF) Forecasted to Earn Q3 2023 Earnings of $0.03 Per Share

AppFolio, Inc. (NASDAQ:APPF) – Equities research analysts at DA Davidson issued their Q3 2023 earnings per share (EPS) estimates for shares of AppFolio in a report released on Tuesday, September 5th. DA Davidson analyst G. Luria expects that the software maker will post earnings of $0.03 per share for the quarter. DA Davidson currently has a “Buy” rating and a $230.00 target price on the stock. The consensus estimate for AppFolio’s current full-year earnings is ($0.25) per share. DA Davidson also issued estimates for AppFolio’s FY2023 earnings at ($0.34) EPS and FY2024 earnings at $0.82 EPS.

AppFolio (NASDAQ:APPF) last issued its quarterly 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). AppFolio had a negative return on equity of 31.03% and a negative net margin of 14.63%. The company had revenue of $147.08 million for the quarter, compared to analysts’ expectations of $143.76 million. During the same quarter in the previous year, the business earned ($0.86) EPS. The company’s revenue for the quarter was up 25.2% on a year-over-year basis.

Several other equities research analysts also recently commented on the stock. KeyCorp upped their price objective on shares of AppFolio from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Stephens raised shares of AppFolio from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $184.00 to $212.00 in a report on Monday, August 21st. William Blair raised shares of AppFolio from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. StockNews.com initiated coverage on AppFolio in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, TheStreet raised AppFolio from a “d+” rating to a “c-” rating in a report on Thursday, May 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average target price of $196.40.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $195.57 on Thursday. The stock has a market capitalization of $6.97 billion, a PE ratio of -88.90 and a beta of 0.95. AppFolio has a one year low of $94.73 and a one year high of $201.91. The business’s fifty day moving average price is $181.12 and its 200-day moving average price is $153.31.

Insider Buying and Selling at AppFolio

In related news, Director Janet Kerr sold 250 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 16,876 shares of the company’s stock, valued at $2,910,434.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

Hedge funds and other institutional investors have recently modified their holdings of the company. Fred Alger Management LLC boosted its stake in AppFolio by 623.8% in the fourth quarter. Fred Alger Management LLC now owns 497,164 shares of the software maker’s stock worth $52,391,000 after buying an additional 428,479 shares in the last quarter. GW&K Investment Management LLC bought a new position in shares of AppFolio during the 1st quarter valued at $40,559,000. DF Dent & Co. Inc. raised its position in AppFolio by 138.7% in the 1st quarter. DF Dent & Co. Inc. now owns 379,806 shares of the software maker’s stock worth $47,278,000 after purchasing an additional 220,680 shares during the period. Norges Bank bought a new stake in AppFolio in the fourth quarter worth $17,253,000. Finally, Echo Street Capital Management LLC boosted its position in AppFolio by 12.2% during the fourth quarter. Echo Street Capital Management LLC now owns 1,478,675 shares of the software maker’s stock valued at $155,823,000 after buying an additional 161,249 shares during the period. 48.96% of the stock is currently owned by hedge funds and other institutional investors.

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.