AppFolio (NASDAQ:APPF) Now Covered by Analysts at Benchmark

Benchmark assumed coverage on shares of AppFolio (NASDAQ:APPF) in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $222.00 target price on the software maker’s stock.

Several other brokerages have also recently weighed in on APPF. Piper Sandler dropped their price objective on AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Wall Street Zen raised shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Keefe, Bruyette & Woods lowered their price target on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. DA Davidson dropped 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. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a report on Monday, February 2nd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $263.86.

AppFolio Stock Performance

Shares of APPF opened at $158.63 on Thursday. The business’s fifty day moving average price is $184.62 and its two-hundred day moving average price is $223.23. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 40.88 and a beta of 0.75. AppFolio has a 52 week low of $155.73 and a 52 week high of $326.04.

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

Insider Activity

In related news, CEO William Shane Trigg sold 6,963 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the completion of the sale, the chief executive officer directly owned 52,920 shares of the company’s stock, valued at approximately $8,982,111.60. This represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Truist Financial Corp increased its stake in shares of AppFolio by 1.1% during the third quarter. Truist Financial Corp now owns 3,928 shares of the software maker’s stock worth $1,083,000 after purchasing an additional 43 shares during the period. Amalgamated Bank boosted its stake in AppFolio by 0.4% in the 3rd quarter. Amalgamated Bank now owns 11,068 shares of the software maker’s stock valued at $3,051,000 after purchasing an additional 46 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in AppFolio by 3.1% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,515 shares of the software maker’s stock valued at $418,000 after buying an additional 46 shares in the last quarter. Woodline Partners LP grew its holdings in AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after buying an additional 50 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the period. 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.