Analysts Set AppFolio, Inc. (NASDAQ:APPF) Target Price at $270.83

Shares of AppFolio, Inc. (NASDAQ:APPF) have received an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $270.8333.

APPF has been the subject of several recent research reports. Weiss Ratings lowered shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 16th. UBS Group set a $260.00 target price on AppFolio and gave the stock a “buy” rating in a report on Friday, January 30th. DA Davidson lowered their target price on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday, January 30th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd.

AppFolio Trading Down 5.4%

Shares of APPF opened at $168.79 on Friday. The firm has a market cap of $6.07 billion, a PE ratio of 43.50 and a beta of 0.75. AppFolio has a 1-year low of $166.36 and a 1-year high of $326.04. The firm has a fifty day simple moving average of $215.08 and a two-hundred day simple moving average of $242.59.

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

Insider Buying and Selling at AppFolio

In other news, CFO Timothy Mathias Eaton sold 517 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $228.34, for a total value of $118,051.78. Following the completion of the sale, the chief financial officer directly owned 10,104 shares of the company’s stock, valued at $2,307,147.36. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppFolio

A number of institutional investors have recently bought and sold shares of APPF. Royal Bank of Canada boosted its stake in shares of AppFolio by 22.6% in the first quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock worth $9,993,000 after acquiring an additional 8,367 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AppFolio by 23.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after purchasing an additional 73 shares in the last quarter. Millennium Management LLC boosted its stake in AppFolio by 237.7% in the 1st quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock worth $3,970,000 after purchasing an additional 12,709 shares during the period. Jones Financial Companies Lllp grew its holdings in AppFolio by 164.8% during the 1st quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after buying an additional 407 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of AppFolio by 322.5% in the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock worth $14,684,000 after buying an additional 50,970 shares in the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

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.