AppFolio (NASDAQ:APPF) Price Target Increased to $275.00 by Analysts at KeyCorp

AppFolio (NASDAQ:APPF) had its price target raised by equities research analysts at KeyCorp from $264.00 to $275.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp’s target price indicates a potential upside of 13.29% from the company’s current price.

Several other research firms have also weighed in on APPF. JPMorgan Chase & Co. lifted their price objective on AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. BTIG Research started coverage on AppFolio in a report on Friday, January 19th. They set a “buy” rating and a $215.00 target price on the stock. Finally, Stephens reiterated an “overweight” rating and set a $241.00 target price on shares of AppFolio in a report on Friday, January 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

AppFolio Price Performance

NASDAQ APPF opened at $242.75 on Friday. The firm has a market capitalization of $8.71 billion, a P/E ratio of 117.27 and a beta of 0.80. AppFolio has a 1-year low of $123.36 and a 1-year high of $256.73. The business’s 50-day simple moving average is $229.59 and its 200-day simple moving average is $205.11.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.29. The business had revenue of $171.83 million for the quarter, compared to analyst estimates of $162.80 million. AppFolio had a return on equity of 14.51% and a net margin of 11.38%. On average, equities research analysts expect that AppFolio will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the sale, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the sale, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $241.75, for a total value of $239,090.75. Following the sale, the director now owns 1,909 shares in the company, valued at $461,500.75. The disclosure for this sale can be found here. Insiders have sold 15,489 shares of company stock worth $3,531,011 in the last three months. 9.15% of the stock is owned by insiders.

Institutional Investors Weigh In On AppFolio

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of AppFolio by 497.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock valued at $7,545,000 after acquiring an additional 36,265 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of AppFolio in the 4th quarter valued at approximately $12,941,000. Long Walk Management LP increased its holdings in shares of AppFolio by 62.7% in the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock valued at $21,135,000 after acquiring an additional 47,000 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of AppFolio by 103.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker’s stock valued at $6,043,000 after acquiring an additional 17,706 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of AppFolio by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker’s stock valued at $365,575,000 after acquiring an additional 46,827 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.