AppFolio, Inc. (APPF) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
AppFolio, Inc. (NASDAQ:APPF) posted its quarterly earnings results on Monday. The software maker reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03, Briefing.com reports. AppFolio had a return on equity of 1.46% and a net margin of 0.84%. The business had revenue of $37.90 million for the quarter, compared to analysts’ expectations of $36.16 million. The company’s revenue for the quarter was up 34.6% on a year-over-year basis.
Shares of AppFolio (NASDAQ APPF) traded down $1.20 on Tuesday, hitting $45.25. The stock had a trading volume of 138,900 shares, compared to its average volume of 169,559. AppFolio has a 52 week low of $18.90 and a 52 week high of $52.25. The company has a market capitalization of $1,530.00 and a P/E ratio of 1,526.67.
APPF has been the topic of a number of research analyst reports. Zacks Investment Research cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. KeyCorp reissued a “hold” rating on shares of AppFolio in a research note on Monday. BidaskClub lowered AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Morgan Stanley lifted their price target on AppFolio to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, July 20th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $35.00 price target (up from $27.00) on shares of AppFolio in a research note on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $42.67.
In related news, major shareholder Marc Stad sold 2,227 shares of AppFolio stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $36.75, for a total transaction of $81,842.25. Following the transaction, the insider now owns 73,153 shares of the company’s stock, valued at $2,688,372.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan Walker sold 30,000 shares of AppFolio stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $44.58, for a total value of $1,337,400.00. Following the transaction, the insider now directly owns 30,000 shares in the company, valued at approximately $1,337,400. The disclosure for this sale can be found here. Insiders have sold 230,427 shares of company stock valued at $8,590,118 over the last 90 days. 44.77% of the stock is owned by corporate insiders.
AppFolio Company Profile
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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