AppFolio, Inc. (NASDAQ:APPF) Stock Has Average Target Price of $246.62 According to Analysts

AppFolio, Inc. (NASDAQ:APPF) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $248.50.

Several brokerages have recently commented on APPF. Weiss Ratings raised shares of AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Guggenheim assumed coverage on AppFolio in a research report on Wednesday, July 22nd. They set a “buy” rating and a $232.00 price target on the stock. DA Davidson set a $240.00 price objective on AppFolio in a research note on Monday. Zacks Research cut AppFolio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 23rd. Finally, KeyCorp upped their target price on AppFolio from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, September 17th.

Insider Buying and Selling

In related news, major shareholder Maurice Duca sold 7,200 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $181.72, for a total transaction of $1,308,384.00. Following the completion of the sale, the insider owned 34,198 shares of the company’s stock, valued at $6,214,460.56. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 176,217 shares of company stock valued at $34,157,323 over the last three months. 1.57% of the stock is owned by insiders.

Hedge Funds Weigh In On AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in AppFolio by 20.9% during the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker’s stock worth $237,665,000 after purchasing an additional 259,933 shares during the last quarter. Wellington Management Group LLP acquired a new stake in AppFolio in the second quarter valued at about $36,063,000. Lead Edge Capital Management LLC bought a new position in shares of AppFolio in the first quarter worth about $33,183,000. Bank of New York Mellon Corp bought a new position in shares of AppFolio in the second quarter worth about $23,524,000. Finally, Norges Bank bought a new stake in shares of AppFolio during the 4th quarter valued at approximately $22,794,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Performance

Shares of AppFolio stock opened at $200.52 on Monday. The firm has a 50-day moving average of $205.88 and a 200-day moving average of $177.72. AppFolio has a 52-week low of $142.56 and a 52-week high of $277.73. The stock has a market cap of $7.10 billion, a PE ratio of 45.78 and a beta of 0.85.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.02. The business had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. AppFolio’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $1.38 earnings per share. Equities research analysts predict that AppFolio will post 5.17 earnings per share for the current fiscal year.

About AppFolio

AppFolio, Inc (NASDAQ:APPF) develops cloud-based software and technology solutions for the real estate industry. Its platform is designed primarily for property managers and real estate businesses, helping them manage operations, accounting, leasing, maintenance, communication, payments and other property-related workflows from a centralized system.

The company’s offerings include AppFolio Property Manager and related services for residential, commercial and community association properties.