Brokerages Set $15.00 Target Price for AppFolio Inc. (NASDAQ:APPF)
AppFolio Inc. (NASDAQ:APPF) has received a consensus broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokers have set a twelve-month consensus target price of $15.00 for the company and are expecting that the company will post ($0.11) EPS for the current quarter, according to Zacks. Zacks has also given AppFolio an industry rank of 67 out of 265 based on the ratings given to its competitors.
A number of research firms have recently issued reports on APPF. Credit Suisse Group AG began coverage on shares of AppFolio in a research report on Tuesday, August 9th. They issued a “hold” rating and a $18.00 price target on the stock. Zacks Investment Research downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th.
Shares of AppFolio (NASDAQ:APPF) traded up 2.53% on Tuesday, reaching $19.47. 5,953 shares of the company’s stock traded hands. The firm’s market capitalization is $655.09 million. The company has a 50 day moving average price of $18.21 and a 200 day moving average price of $14.64. AppFolio has a 52 week low of $11.07 and a 52 week high of $19.98.
AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.06. AppFolio had a negative net margin of 16.11% and a negative return on equity of 20.16%. On average, equities research analysts predict that AppFolio will post ($0.30) earnings per share for the current fiscal year.
In other news, insider Jonathan Walker sold 60,000 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $18.00, for a total value of $1,080,000.00. Following the transaction, the insider now directly owns 60,000 shares in the company, valued at approximately $1,080,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Keenan Capital, Llc sold 5,700 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $19.67, for a total transaction of $112,119.00. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in AppFolio during the second quarter worth about $155,000. State Street Corp increased its stake in shares of AppFolio by 4.7% in the second quarter. State Street Corp now owns 74,197 shares of the company’s stock valued at $1,074,000 after buying an additional 3,346 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of AppFolio by 105.1% in the second quarter. Teachers Advisors Inc. now owns 12,077 shares of the company’s stock valued at $175,000 after buying an additional 6,190 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of AppFolio by 16.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 86,517 shares of the company’s stock valued at $1,251,000 after buying an additional 12,349 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of AppFolio by 35.6% in the second quarter. BlackRock Fund Advisors now owns 196,806 shares of the company’s stock valued at $2,846,000 after buying an additional 51,631 shares in the last quarter. Institutional investors own 13.35% of the company’s stock.
AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.
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