Shares of AppFolio Inc (NASDAQ:APPF) have received a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $70.50.

Several equities research analysts have weighed in on APPF shares. Morgan Stanley lowered AppFolio from an “equal weight” rating to an “underweight” rating in a research report on Friday, June 1st. Zacks Investment Research raised AppFolio from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Thursday, August 2nd. BidaskClub raised AppFolio from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 16th. Finally, TheStreet raised AppFolio from a “c” rating to a “b-” rating in a research report on Monday, June 25th.

A number of hedge funds and other institutional investors have recently modified their holdings of APPF. Victory Capital Management Inc. bought a new position in shares of AppFolio in the first quarter worth $228,000. Creative Planning bought a new position in shares of AppFolio in the second quarter worth $255,000. Campbell & CO Investment Adviser LLC bought a new position in shares of AppFolio in the second quarter worth $294,000. Metropolitan Life Insurance Co. NY grew its stake in shares of AppFolio by 60.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,857 shares of the software maker’s stock worth $297,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Voya Investment Management LLC bought a new position in shares of AppFolio in the second quarter worth $315,000. 29.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of APPF stock traded up $1.10 on Tuesday, hitting $82.35. 150,400 shares of the stock traded hands, compared to its average volume of 139,092. The firm has a market cap of $2.76 billion, a P/E ratio of 294.64 and a beta of 0.86. AppFolio has a 1-year low of $37.56 and a 1-year high of $91.49.

AppFolio (NASDAQ:APPF) last issued its earnings results on Monday, July 30th. The software maker reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. AppFolio had a return on equity of 20.10% and a net margin of 10.92%. The firm had revenue of $47.24 million for the quarter, compared to analyst estimates of $45.55 million. AppFolio’s quarterly revenue was up 31.7% compared to the same quarter last year. equities research analysts forecast that AppFolio will post 0.69 earnings per share for the current fiscal year.

About AppFolio

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

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