Q3 2017 EPS Estimates for AppFolio, Inc. (APPF) Lifted by Analyst
AppFolio, Inc. (NASDAQ:APPF) – Stock analysts at William Blair boosted their Q3 2017 earnings per share (EPS) estimates for shares of AppFolio in a report released on Tuesday. William Blair analyst B. Suri now expects that the software maker will post earnings per share of $0.01 for the quarter, up from their prior forecast of ($0.02). William Blair also issued estimates for AppFolio’s Q4 2017 earnings at $0.02 EPS, FY2017 earnings at $0.13 EPS and FY2018 earnings at $0.11 EPS.
APPF has been the topic of a number of other research reports. Morgan Stanley lifted their target price on AppFolio from $33.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday. Zacks Investment Research cut AppFolio from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Credit Suisse Group reiterated a “neutral” rating and issued a $35.00 target price (up previously from $27.00) on shares of AppFolio in a report on Tuesday. BidaskClub upgraded AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Finally, KeyCorp restated a “buy” rating on shares of AppFolio in a research note on Friday. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $38.33.
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AppFolio (APPF) opened at 35.80 on Friday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 1154.84 and a beta of 0.78. The stock’s 50 day moving average price is $34.16 and its 200 day moving average price is $28.30. AppFolio has a 52 week low of $17.51 and a 52 week high of $38.85.
Hedge funds and other institutional investors have recently modified their holdings of the company. Blair William & Co. IL boosted its position in shares of AppFolio by 3.6% in the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock worth $2,710,000 after buying an additional 3,775 shares in the last quarter. State Street Corp boosted its position in shares of AppFolio by 14.4% in the fourth quarter. State Street Corp now owns 96,083 shares of the software maker’s stock worth $2,293,000 after buying an additional 12,096 shares in the last quarter. Spark Investment Management LLC bought a new position in shares of AppFolio during the first quarter worth approximately $388,000. Strs Ohio bought a new position in shares of AppFolio during the first quarter worth approximately $359,000. Finally, American International Group Inc. boosted its position 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 worth $127,000 after buying an additional 314 shares in the last quarter. Institutional investors own 16.85% of the company’s stock.
In other AppFolio news, insider William E. Oberndorf sold 220,000 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $31.25, for a total transaction of $6,875,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 503,300 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $35.79, for a total value of $18,013,107.00. Following the transaction, the insider now owns 52,263 shares in the company, valued at approximately $1,870,492.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,592,011 shares of company stock worth $52,506,807. 44.77% of the stock is currently owned by insiders.
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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