AppFolio, Inc. (NASDAQ:APPF) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $270.8333.

APPF has been the subject of several research analyst reports. Wells Fargo & Company reiterated a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. DA Davidson reduced their price target on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, January 30th. UBS Group set a $260.00 price objective on shares of AppFolio and gave the company a “buy” rating in a report on Friday, January 30th. JPMorgan Chase & Co. dropped their target price on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Finally, Piper Sandler cut their target price on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 30th.

AppFolio Trading Up 1.4%

APPF stock opened at $178.41 on Friday. The company’s 50 day moving average is $217.46 and its 200 day moving average is $244.38. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 45.98 and a beta of 0.75. AppFolio has a 1-year low of $173.10 and a 1-year high of $326.04.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.17. The business had revenue of $248.19 million for the quarter, compared to the consensus estimate of $246.56 million. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. As a group, sell-side analysts forecast that AppFolio will post 3.96 EPS for the current fiscal year.

Insider Activity at AppFolio

In related news, CEO William Shane Trigg sold 3,947 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $240.45, for a total value of $949,056.15. Following the completion of the transaction, the chief executive officer owned 51,530 shares of the company’s stock, valued at approximately $12,390,388.50. This represents a 7.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Timothy Mathias Eaton sold 517 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $228.34, for a total value of $118,051.78. Following the completion of the transaction, the chief financial officer directly owned 10,104 shares of the company’s stock, valued at approximately $2,307,147.36. This trade represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,411 shares of company stock worth $2,016,164 over the last quarter. Insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in AppFolio by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker’s stock valued at $595,691,000 after purchasing an additional 101,466 shares during the period. Principal Financial Group Inc. raised its position in AppFolio by 6.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker’s stock valued at $289,880,000 after purchasing an additional 79,197 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of AppFolio by 73.6% in the 2nd quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock worth $168,894,000 after buying an additional 310,834 shares during the period. State Street Corp grew its position in shares of AppFolio by 1.1% during the 4th quarter. State Street Corp now owns 685,656 shares of the software maker’s stock worth $159,518,000 after buying an additional 7,585 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of AppFolio by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 472,491 shares of the software maker’s stock worth $109,947,000 after buying an additional 11,588 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.