AppFolio, Inc. (APPF) PT Raised to $46.00 at Morgan Stanley
AppFolio, Inc. (NASDAQ:APPF) had its price objective lifted by Morgan Stanley from $38.00 to $46.00 in a report issued on Tuesday. The brokerage presently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price objective would indicate a potential upside of 8.24% from the stock’s current price.
A number of other research firms have also recently commented on APPF. Zacks Investment Research cut AppFolio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. KeyCorp reissued a “hold” rating on shares of AppFolio in a report on Monday, November 6th. BidaskClub raised AppFolio from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $35.00 price target (up from $27.00) on shares of AppFolio in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. AppFolio presently has an average rating of “Buy” and an average target price of $43.00.
AppFolio (NASDAQ APPF) traded down $0.90 during mid-day trading on Tuesday, hitting $42.50. The stock had a trading volume of 113,100 shares, compared to its average volume of 100,776. AppFolio has a 12-month low of $20.15 and a 12-month high of $52.25. The stock has a market cap of $1,473.26, a PE ratio of 271.25 and a beta of 0.70.
AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Monday, November 6th. The software maker reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. AppFolio had a return on equity of 7.91% and a net margin of 4.37%. The company had revenue of $37.90 million for the quarter, compared to analysts’ expectations of $36.16 million. AppFolio’s quarterly revenue was up 34.6% on a year-over-year basis. equities analysts predict that AppFolio will post 0.23 earnings per share for the current year.
In other AppFolio news, Director Janet Kerr sold 1,576 shares of AppFolio stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $43.08, for a total value of $67,894.08. Following the sale, the director now owns 17,189 shares of the company’s stock, valued at approximately $740,502.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Walker sold 30,000 shares of AppFolio stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $44.58, for a total value of $1,337,400.00. Following the completion of the sale, the insider now directly owns 1,554,025 shares in the company, valued at approximately $69,278,434.50. The disclosure for this sale can be found here. Insiders own 44.77% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cavalier Investments LLC bought a new position in shares of AppFolio during the 3rd quarter valued at approximately $590,000. Geode Capital Management LLC increased its position in shares of AppFolio by 12.0% during the 1st quarter. Geode Capital Management LLC now owns 88,033 shares of the software maker’s stock valued at $2,394,000 after purchasing an additional 9,458 shares during the last quarter. Chicago Equity Partners LLC bought a new position in shares of AppFolio during the 2nd quarter valued at approximately $1,173,000. Schwab Charles Investment Management Inc. bought a new position in shares of AppFolio during the 2nd quarter valued at approximately $476,000. Finally, Vanguard Group Inc. increased its position in shares of AppFolio by 25.3% during the 1st quarter. Vanguard Group Inc. now owns 386,278 shares of the software maker’s stock valued at $10,507,000 after purchasing an additional 78,048 shares during the last quarter. 22.52% of the stock is currently owned by hedge funds and other institutional investors.
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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