Zacks: Analysts Expect AppFolio, Inc. (APPF) Will Announce Quarterly Sales of $36.17 Million
Wall Street analysts expect AppFolio, Inc. (NASDAQ:APPF) to report sales of $36.17 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for AppFolio’s earnings, with estimates ranging from $35.69 million to $36.64 million. AppFolio posted sales of $28.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 28.4%. The company is scheduled to announce its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that AppFolio will report full-year sales of $36.17 million for the current year, with estimates ranging from $138.54 million to $140.52 million. For the next year, analysts forecast that the firm will report sales of $176.40 million per share, with estimates ranging from $174.39 million to $178.82 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow AppFolio.
Several brokerages have recently commented on APPF. BidaskClub upgraded shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Zacks Investment Research cut shares of AppFolio from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 10th. Morgan Stanley lifted their price target on shares of AppFolio to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 20th. Credit Suisse Group reiterated a “neutral” rating and set a $35.00 price target (up previously from $27.00) on shares of AppFolio in a research report on Tuesday, August 8th. Finally, KeyCorp reiterated a “buy” rating on shares of AppFolio in a research report on Friday, August 11th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $38.33.
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In related news, major shareholder Marc Stad sold 198,200 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $36.18, for a total transaction of $7,170,876.00. Following the completion of the transaction, the insider now owns 73,153 shares in the company, valued at $2,646,675.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William E. Oberndorf sold 220,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were 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. In the last 90 days, insiders have sold 1,392,438 shares of company stock valued at $47,759,525. Corporate insiders own 44.77% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Navellier & Associates Inc acquired a new position in AppFolio during the second quarter valued at approximately $257,000. The Manufacturers Life Insurance Company grew its holdings in AppFolio by 11.0% during the second quarter. The Manufacturers Life Insurance Company now owns 7,782 shares of the software maker’s stock valued at $254,000 after purchasing an additional 774 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in AppFolio during the second quarter valued at approximately $2,615,000. State Street Corp grew its holdings in AppFolio by 23.5% during the second quarter. State Street Corp now owns 125,619 shares of the software maker’s stock valued at $4,095,000 after purchasing an additional 23,912 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in AppFolio by 189.6% during the second quarter. Goldman Sachs Group Inc. now owns 30,038 shares of the software maker’s stock valued at $980,000 after purchasing an additional 19,666 shares during the period. Hedge funds and other institutional investors own 20.88% of the company’s stock.
AppFolio (NASDAQ APPF) traded up 3.41% on Monday, reaching $45.45. 157,495 shares of the company’s stock traded hands. The stock has a market capitalization of $1.54 billion, a PE ratio of 1466.13 and a beta of 0.73. AppFolio has a 52-week low of $17.91 and a 52-week high of $45.65. The firm’s 50-day moving average is $38.81 and its 200 day moving average is $30.86.
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.
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