AppFolio’s (APPF) “Hold” Rating Reaffirmed at KeyCorp
“We believe continued top-line upside demonstrates AppFolio’s ability to take share in the property management and legal verticals. We are encouraged by the company’s growth opportunities in Value+ services and ambitions to expand into new verticals. While positive investor sentiment appears warranted, the stock is up 95% YTD (vs. Nasdaq up 26%), implying some of this positive sentiment may already be priced in. We remain at Sector Weight.”,” KeyCorp’s analyst wrote.
Several other equities research analysts have also recently weighed in on APPF. Zacks Investment Research cut AppFolio from a strong-buy rating to a hold rating in a research note on Monday, July 10th. Morgan Stanley boosted their target price on AppFolio to $33.00 and gave the stock an equal weight rating in a research note on Thursday, July 20th. BidaskClub cut AppFolio from a strong-buy rating to a buy rating in a research note on Friday, August 4th. Finally, Credit Suisse Group reiterated a neutral rating and issued a $35.00 price objective (up previously from $27.00) on shares of AppFolio in a research note on Tuesday, August 8th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. AppFolio presently has an average rating of Hold and a consensus price target of $42.67.
Shares of AppFolio (NASDAQ APPF) traded down $4.35 during mid-day trading on Monday, hitting $42.10. The stock had a trading volume of 415,317 shares, compared to its average volume of 169,559. The firm has a market cap of $1,530.00 and a PE ratio of 1,526.67. AppFolio has a one year low of $18.90 and a one year high of $52.25.
AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Monday, November 6th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $36.16 million. AppFolio had a return on equity of 1.46% and a net margin of 0.84%. The company’s revenue was up 34.6% compared to the same quarter last year. equities research analysts predict that AppFolio will post 0.15 EPS for the current fiscal year.
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In other news, insider Jonathan Walker sold 30,000 shares of the business’s 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 transaction, the insider now owns 30,000 shares of the company’s stock, valued at $1,337,400. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Marc Stad sold 2,227 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $36.75, for a total value of $81,842.25. Following the completion of the transaction, the insider now directly owns 73,153 shares in the company, valued at approximately $2,688,372.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,427 shares of company stock valued at $8,590,118. 44.77% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its holdings in shares of AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock valued at $127,000 after purchasing an additional 314 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of AppFolio by 11.0% in the second quarter. The Manufacturers Life Insurance Company now owns 7,782 shares of the software maker’s stock valued at $254,000 after purchasing an additional 774 shares during the period. Sei Investments Co. grew its holdings in AppFolio by 60.0% during the third quarter. Sei Investments Co. now owns 5,715 shares of the software maker’s stock worth $274,000 after acquiring an additional 2,143 shares during the period. Bank of New York Mellon Corp grew its holdings in AppFolio by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock worth $764,000 after acquiring an additional 2,445 shares during the period. Finally, First Quadrant L P CA grew its holdings in AppFolio by 47.2% during the third quarter. First Quadrant L P CA now owns 10,177 shares of the software maker’s stock worth $488,000 after acquiring an additional 3,263 shares during the period. 21.27% of the stock is currently owned by institutional investors and hedge funds.
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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