AppFolio (NASDAQ:APPF) Stock Rating Lowered by Wall Street Zen

AppFolio (NASDAQ:APPF) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts have also recently weighed in on APPF. KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. William Blair reissued an “outperform” rating on shares of AppFolio in a research note on Friday, January 30th. Piper Sandler decreased their target price on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. lowered their price target on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Finally, DA Davidson dropped their price target on AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and an average target price of $270.83.

AppFolio Stock Performance

Shares of APPF stock opened at $191.17 on Friday. AppFolio has a 52 week low of $161.13 and a 52 week high of $326.04. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 49.27 and a beta of 0.75. The company has a 50-day simple moving average of $200.71 and a 200 day simple moving average of $233.40.

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, topping the consensus estimate of $1.22 by $0.17. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The business had revenue of $248.19 million during the quarter, compared to analysts’ expectations of $246.56 million. During the same period last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. Sell-side analysts forecast that AppFolio will post 3.96 EPS for the current year.

Insider Activity

In other news, CEO William Shane Trigg sold 6,963 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total value of $1,181,829.99. Following the sale, the chief executive officer owned 52,920 shares of the company’s stock, valued at $8,982,111.60. The trade was a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.68% of the stock is currently owned by company insiders.

Institutional Trading of AppFolio

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of AppFolio during the 3rd quarter valued at about $31,000. TD Private Client Wealth LLC raised its holdings in shares of AppFolio by 2,116.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock valued at $37,000 after buying an additional 127 shares in the last quarter. First Horizon Corp bought a new stake in AppFolio in the 3rd quarter worth approximately $39,000. Finally, Hantz Financial Services Inc. boosted its stake in AppFolio by 373.3% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after buying an additional 112 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

About AppFolio

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.