AppFolio, Inc. (NASDAQ:APPF) Given Consensus Rating of “Buy” by Analysts

AppFolio, Inc. (NASDAQ:APPF) has earned an average recommendation of “Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $263.8571.

Several analysts have issued reports on the company. Benchmark assumed coverage on AppFolio in a research report on Thursday, March 26th. They set a “buy” rating and a $222.00 target price on the stock. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Keefe, Bruyette & Woods decreased their price objective on AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Weiss Ratings downgraded AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 16th. Finally, Piper Sandler cut their target price on AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction dated 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 directly owned 52,920 shares in the company, valued at approximately $8,982,111.60. This trade represents a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

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

AppFolio Stock Performance

NASDAQ APPF opened at $157.11 on Monday. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 40.49 and a beta of 0.84. The company’s 50-day simple moving average is $177.24 and its two-hundred day simple moving average is $217.24. AppFolio has a one year low of $150.12 and a one year high of $326.04.

AppFolio (NASDAQ:APPF) last announced 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 net margin of 14.82% and a return on equity of 29.79%. The firm had revenue of $248.19 million during the quarter, compared to analysts’ expectations of $246.56 million. During the same quarter in the prior year, the company earned $0.92 EPS. The company’s revenue was up 21.7% compared to the same quarter last year. Equities analysts expect that AppFolio will post 3.96 earnings per share for the current fiscal year.

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.