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

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

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of AppFolio from a “hold” rating to a “buy” rating in a report on Sunday. DA Davidson reduced their target price on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a report on Friday, January 30th. Weiss Ratings downgraded shares of AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. dropped their price target on shares of AppFolio from $330.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, KeyCorp reissued an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd.

AppFolio Stock Performance

APPF stock opened at $167.67 on Thursday. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 43.21 and a beta of 0.75. The business’s 50-day moving average is $191.64 and its two-hundred day moving average is $227.68. AppFolio has a fifty-two week low of $161.13 and a fifty-two week high of $326.04.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating 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 business had revenue of $248.19 million during the quarter, compared to the consensus estimate of $246.56 million. During the same period in the previous year, the company posted $0.92 EPS. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities analysts predict that AppFolio will post 3.96 earnings per share for the current year.

Insider Transactions at AppFolio

In other AppFolio 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 transaction of $1,181,829.99. Following the completion of the sale, the chief executive officer owned 52,920 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. Corporate insiders own 4.68% of the company’s stock.

Institutional Inflows and Outflows

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