Zacks: Analysts Anticipate AppFolio Inc (APPF) Will Announce Quarterly Sales of $47.72 Million
Equities analysts expect AppFolio Inc (NASDAQ:APPF) to post $47.72 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for AppFolio’s earnings, with the highest sales estimate coming in at $47.73 million and the lowest estimate coming in at $47.71 million. AppFolio reported sales of $37.90 million during the same quarter last year, which indicates a positive year over year growth rate of 25.9%. The company is expected to issue its next earnings results after the market closes on Monday, October 29th.
According to Zacks, analysts expect that AppFolio will report full year sales of $184.61 million for the current financial year, with estimates ranging from $183.89 million to $185.00 million. For the next financial year, analysts anticipate that the firm will post sales of $229.59 million, with estimates ranging from $223.88 million to $232.56 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow AppFolio.
AppFolio (NASDAQ:APPF) last released its earnings results on Monday, July 30th. The software maker reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. AppFolio had a net margin of 10.92% and a return on equity of 20.10%. The business had revenue of $47.24 million for the quarter, compared to the consensus estimate of $45.55 million. The firm’s revenue was up 31.7% compared to the same quarter last year.
Shares of APPF stock traded down $3.28 during trading hours on Thursday, reaching $60.07. 134,832 shares of the stock traded hands, compared to its average volume of 217,285. AppFolio has a 1-year low of $37.56 and a 1-year high of $91.49. The firm has a market capitalization of $2.06 billion, a P/E ratio of 214.54 and a beta of 0.89.
In related news, insider Jonathan Walker sold 30,000 shares of the company’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $73.03, for a total transaction of $2,190,900.00. Following the completion of the transaction, the insider now directly owns 30,000 shares in the company, valued at approximately $2,190,900. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William R. Rauth III sold 20,000 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $63.40, for a total transaction of $1,268,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,268,000. The disclosure for this sale can be found here. 41.96% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Zacks Investment Management acquired a new position in shares of AppFolio in the 2nd quarter valued at $906,000. Globeflex Capital L P raised its holdings in shares of AppFolio by 11.9% during the 2nd quarter. Globeflex Capital L P now owns 11,300 shares of the software maker’s stock valued at $691,000 after buying an additional 1,200 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of AppFolio during the 2nd quarter valued at about $2,209,000. Granite Investment Partners LLC purchased a new position in shares of AppFolio during the 2nd quarter valued at about $16,046,000. Finally, DE Burlo Group Inc. purchased a new position in shares of AppFolio during the 2nd quarter valued at about $2,922,000. Institutional investors own 29.94% of the company’s stock.
AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.
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