AppFolio, Inc. (NASDAQ:APPF) Given Average Recommendation of “Moderate Buy” by Analysts

AppFolio, Inc. (NASDAQ:APPFGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $252.2857.

APPF has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Saturday. Benchmark lifted their price objective on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of AppFolio in a report on Monday, July 6th.

Check Out Our Latest Report on AppFolio

Insider Activity at AppFolio

In other news, major shareholder Maurice J. Duca sold 7,200 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the completion of the sale, the insider directly owned 42,400 shares in the company, valued at $7,645,568. This represents a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Evan Pickering sold 660 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $155.25, for a total value of $102,465.00. Following the completion of the sale, the general counsel directly owned 6,555 shares of the company’s stock, valued at $1,017,663.75. This represents a 9.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,657 shares of company stock valued at $5,310,740 over the last ninety days. Insiders own 1.57% of the company’s stock.

Institutional Trading of AppFolio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Woodline Partners LP grew its holdings in shares of AppFolio by 2.9% in the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock valued at $386,000 after buying an additional 50 shares during the period. EverSource Wealth Advisors LLC raised its stake in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after buying an additional 56 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in AppFolio by 4.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,263 shares of the software maker’s stock worth $348,000 after acquiring an additional 58 shares in the last quarter. Somerset Trust Co lifted its holdings in AppFolio by 5.5% during the fourth quarter. Somerset Trust Co now owns 1,176 shares of the software maker’s stock worth $274,000 after acquiring an additional 61 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $179.73 on Wednesday. AppFolio has a one year low of $142.56 and a one year high of $326.04. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 42.79 and a beta of 0.79. The business has a fifty day simple moving average of $163.35 and a 200 day simple moving average of $175.79.

AppFolio (NASDAQ:APPFGet Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.14. The firm had revenue of $262.21 million for the quarter, compared to analysts’ expectations of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, research analysts anticipate that AppFolio will post 5.04 earnings per share for the current fiscal year.

AppFolio Company Profile

(Get Free Report)

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.

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Analyst Recommendations for AppFolio (NASDAQ:APPF)

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