AppFolio, Inc. (NASDAQ:APPF) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

Other equities analysts have also recently issued reports about the stock. Pacific Crest reissued a “hold” rating on shares of AppFolio in a research report on Monday, May 8th. Credit Suisse Group boosted their price objective on shares of AppFolio from $19.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, February 28th. William Blair reaffirmed a “positive” rating on shares of AppFolio in a research report on Tuesday, February 28th. Finally, Zacks Investment Research upgraded shares of AppFolio from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. AppFolio currently has an average rating of “Buy” and a consensus target price of $28.50.

AppFolio (NASDAQ:APPF) traded down 0.61% during midday trading on Wednesday, reaching $32.40. The company’s stock had a trading volume of 65,765 shares. The stock’s market capitalization is $1.10 billion. AppFolio has a 52-week low of $13.34 and a 52-week high of $35.20. The firm has a 50-day moving average price of $29.19 and a 200 day moving average price of $25.43.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Friday, May 5th. The software maker reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The company had revenue of $32.13 million for the quarter, compared to analysts’ expectations of $30.20 million. AppFolio had a negative net margin of 3.51% and a negative return on equity of 5.77%. Equities research analysts predict that AppFolio will post $0.14 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/06/21/appfolio-inc-appf-upgraded-by-bidaskclub-to-strong-buy.html.

In other news, major shareholder Global Fund Ii L.P. Dragoneer sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $24.80, for a total transaction of $9,920,000.00. Following the completion of the sale, the insider now owns 6,029 shares of the company’s stock, valued at approximately $149,519.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William E. Oberndorf sold 220,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $31.25, for a total transaction of $6,875,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,073,250 shares of company stock valued at $30,432,750 in the last three months. Insiders own 44.77% of the company’s stock.

Hedge funds have recently modified their holdings of the company. American International Group Inc. increased its stake 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 during the period. UBS Group AG increased its stake in shares of AppFolio by 232.9% in the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock worth $142,000 after buying an additional 3,629 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of AppFolio during the first quarter worth $282,000. Strs Ohio purchased a new stake in shares of AppFolio during the first quarter worth $359,000. Finally, Teachers Advisors LLC increased its stake in shares of AppFolio by 9.2% in the first quarter. Teachers Advisors LLC now owns 13,194 shares of the software maker’s stock worth $359,000 after buying an additional 1,117 shares during the period. 16.61% of the stock is owned by institutional investors.

AppFolio Company Profile

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.

Receive News & Ratings for AppFolio Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppFolio Inc. and related companies with MarketBeat.com's FREE daily email newsletter.