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

Shares of AppFolio, Inc. (NASDAQ:APPF) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $270.8333.

APPF has been the topic of several research reports. 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 note on Friday, January 30th. Piper Sandler lowered their price objective on AppFolio from $350.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research note on Monday, February 2nd. Finally, William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 30th.

AppFolio Stock Performance

Shares of APPF stock opened at $178.99 on Thursday. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 46.13 and a beta of 0.75. AppFolio has a 52 week low of $161.13 and a 52 week high of $326.04. The firm’s 50-day simple moving average is $197.69 and its two-hundred day simple moving average is $231.33.

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

Insider Activity at AppFolio

In other news, CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total value of $1,181,829.99. Following the completion of the transaction, the chief executive officer directly owned 52,920 shares of the company’s stock, valued at $8,982,111.60. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APPF. Pacer Advisors Inc. lifted its holdings in shares of AppFolio by 17.7% in the fourth quarter. Pacer Advisors Inc. now owns 3,566 shares of the software maker’s stock worth $830,000 after buying an additional 536 shares in the last quarter. Invesco Ltd. lifted its stake in AppFolio by 5.2% in the 4th quarter. Invesco Ltd. now owns 416,260 shares of the software maker’s stock worth $96,843,000 after purchasing an additional 20,609 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in AppFolio by 66.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,105 shares of the software maker’s stock worth $490,000 after purchasing an additional 842 shares in the last quarter. Caitlin John LLC bought a new position in AppFolio in the 4th quarter valued at $499,000. Finally, Vident Advisory LLC boosted its holdings in AppFolio by 1.3% in the 4th quarter. Vident Advisory LLC now owns 8,681 shares of the software maker’s stock valued at $2,020,000 after purchasing an additional 110 shares during the period. 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.