AppFolio (NASDAQ:APPF) Upgraded at Benchmark

Benchmark upgraded shares of AppFolio (NASDAQ:APPF) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their target price 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. KeyCorp reissued an “overweight” rating on shares of AppFolio in a report on Monday, February 2nd. Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Piper Sandler reduced 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. Finally, William Blair reiterated an “outperform” rating on shares of AppFolio in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $263.86.

AppFolio Trading Down 1.9%

APPF opened at $155.68 on Wednesday. AppFolio has a 1-year low of $154.16 and a 1-year high of $326.04. The stock’s fifty day simple moving average is $183.37 and its 200 day simple moving average is $222.32. The stock has a market cap of $5.60 billion, a PE ratio of 40.12 and a beta of 0.75.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, January 29th. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Equities analysts forecast that AppFolio will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 6,963 shares of the business’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this link. 4.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AppFolio

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of AppFolio by 101.8% in 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 bought a new position in AppFolio in the third quarter valued at approximately $31,000. TD Private Client Wealth LLC increased its stake in AppFolio by 2,116.7% in the third quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock valued at $37,000 after acquiring an additional 127 shares during the last quarter. First Horizon Corp acquired a new position in AppFolio during the third quarter valued at approximately $39,000. Finally, Hantz Financial Services Inc. raised its position in AppFolio by 373.3% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock valued at $39,000 after purchasing an additional 112 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

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.