AppFolio, Inc. (NASDAQ:APPF) Expected to Post Q2 2024 Earnings of $0.64 Per Share

AppFolio, Inc. (NASDAQ:APPF) – Research analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of AppFolio in a report released on Friday, April 26th. DA Davidson analyst G. Luria anticipates that the software maker will post earnings of $0.64 per share for the quarter. The consensus estimate for AppFolio’s current full-year earnings is $2.72 per share. DA Davidson also issued estimates for AppFolio’s FY2024 earnings at $2.83 EPS and FY2025 earnings at $4.03 EPS.

A number of other equities analysts have also recently issued reports on the company. Stephens restated an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a report on Friday. KeyCorp increased their price target on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. BTIG Research started coverage on shares of AppFolio in a report on Friday, January 19th. They issued a “buy” rating and a $215.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

AppFolio Stock Performance

NASDAQ APPF opened at $242.75 on Monday. AppFolio has a 1 year low of $123.36 and a 1 year high of $256.73. The business’s fifty day moving average is $229.59 and its two-hundred day moving average is $205.22. The stock has a market capitalization of $8.71 billion, a P/E ratio of 117.27 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.29. The firm had revenue of $171.83 million during the quarter, compared to analysts’ expectations of $162.80 million. AppFolio had a net margin of 11.38% and a return on equity of 14.51%.

Insider Buying and Selling

In other news, Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total value of $239,090.75. Following the transaction, the director now owns 1,909 shares in the company, valued at approximately $461,500.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the transaction, the director now directly owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total value of $239,090.75. Following the sale, the director now directly owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,489 shares of company stock valued at $3,531,011. Corporate insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APPF. Norges Bank bought a new stake in shares of AppFolio in the 4th quarter valued at approximately $38,458,000. Zeno Equity Partners LLP acquired a new stake in AppFolio in the fourth quarter valued at approximately $33,434,000. Lord Abbett & CO. LLC bought a new stake in AppFolio in the third quarter worth approximately $33,062,000. Assenagon Asset Management S.A. increased its stake in shares of AppFolio by 344.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock worth $38,276,000 after purchasing an additional 120,246 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of AppFolio during the 4th quarter valued at $18,636,000. 62.34% of the stock is 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 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.