AppFolio, Inc. (APPF) Given Neutral Rating at Credit Suisse Group
AppFolio, Inc. (NASDAQ:APPF)‘s stock had its “neutral” rating reissued by analysts at Credit Suisse Group in a research report issued on Tuesday, The Fly reports. They presently have a $35.00 price target on the software maker’s stock, up from their prior price target of $27.00. Credit Suisse Group’s target price suggests a potential downside of 0.71% from the stock’s previous close.
A number of other brokerages have also weighed in on APPF. Zacks Investment Research raised AppFolio from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a research report on Thursday, May 11th. BidaskClub lowered AppFolio from a “strong-buy” rating to a “buy” rating in a research report on Friday. Pacific Crest reaffirmed a “hold” rating on shares of AppFolio in a research report on Monday, May 8th. Finally, Morgan Stanley upped their target price on AppFolio to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.67.
AppFolio (NASDAQ APPF) opened at 35.25 on Tuesday. The company’s market capitalization is $1.19 billion. AppFolio has a 52 week low of $14.86 and a 52 week high of $36.53. The stock’s 50 day moving average is $33.42 and its 200 day moving average is $27.75.
AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Friday, May 5th. The software maker reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. AppFolio had a negative return on equity of 5.77% and a negative net margin of 3.51%. The firm had revenue of $32.13 million for the quarter, compared to analyst estimates of $30.20 million. Analysts predict that AppFolio will post $0.14 EPS for the current fiscal year.
In other news, major shareholder Marc Stad sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $30.00, for a total transaction of $12,000,000.00. Following the transaction, the insider now directly owns 25,780 shares of the company’s stock, valued at $773,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $6,875,000.00. The disclosure for this sale can be found here. Insiders have sold 1,088,711 shares of company stock worth $34,493,700 over the last ninety days. 44.77% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. Dragoneer Investment Group LLC raised its position in shares of AppFolio by 3.2% in the first quarter. Dragoneer Investment Group LLC now owns 2,124,003 shares of the software maker’s stock worth $57,773,000 after buying an additional 66,659 shares during the last quarter. Vanguard Group Inc. raised its position in shares of AppFolio by 25.3% in the first quarter. Vanguard Group Inc. now owns 386,278 shares of the software maker’s stock worth $10,507,000 after buying an additional 78,048 shares during the last quarter. Glynn Capital Management LLC purchased a new position in shares of AppFolio during the second quarter worth $8,150,000. Blair William & Co. IL raised its position in shares of AppFolio by 5.7% in the second quarter. Blair William & Co. IL now owns 115,305 shares of the software maker’s stock worth $3,759,000 after buying an additional 6,265 shares during the last quarter. Finally, State Street Corp raised 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 during the last quarter. 16.85% of the stock is currently owned by institutional investors.
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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