AppFolio, Inc. (NASDAQ:APPF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $57.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.10% from the company’s previous close.

According to Zacks, “AppFolio, Inc. offers cloud-based software solutions for property management and legal industries. It offers AppFolio Property Manager, a solution for the property managers including activities of posting and tracking tenant vacancies, handling the entire leasing process electronically, administering maintenance and repairs with their vendor networks, managing accounting and reporting to property owners. MyCase solution for practitioners and small law firms, providing time tracking, billing and payments, client communication, coordination with other lawyers and support staff, legal document management and assembly and general office administration services. Value+ services include Websites and electronic payment services. AppFolio, Inc. is headquartered Goleta, California. “

A number of other research analysts also recently commented on APPF. KeyCorp reiterated a “buy” rating on shares of AppFolio in a report on Friday, August 11th. BidaskClub downgraded AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Credit Suisse Group restated a “neutral” rating and set a $35.00 price target (up previously from $27.00) on shares of AppFolio in a research note on Tuesday, August 8th. Finally, Morgan Stanley raised their price target on AppFolio from $33.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $43.33.

Shares of AppFolio (NASDAQ APPF) traded down 0.98% during midday trading on Tuesday, hitting $50.40. The stock had a trading volume of 113,526 shares. The firm has a 50 day moving average price of $47.61 and a 200 day moving average price of $47.61. The stock has a market cap of $1.71 billion, a PE ratio of 1625.81 and a beta of 0.76. AppFolio has a one year low of $18.40 and a one year high of $52.25.

WARNING: This report was first reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/10/17/appfolio-inc-appf-stock-rating-upgraded-by-zacks-investment-research.html.

In other AppFolio news, major shareholder Global Fund Ii L.P. Dragoneer sold 503,300 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $35.79, for a total transaction of $18,013,107.00. Following the completion of the sale, the insider now owns 52,263 shares of the company’s stock, valued at $1,870,492.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Marc Stad sold 2,227 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $36.75, for a total value of $81,842.25. Following the sale, the insider now directly owns 73,153 shares of the company’s stock, valued at approximately $2,688,372.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 951,527 shares of company stock valued at $33,891,917. Company insiders own 44.77% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of APPF. Bank of New York Mellon Corp lifted its stake in shares of AppFolio by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock worth $764,000 after purchasing an additional 2,445 shares in the last quarter. American International Group Inc. lifted 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 acquiring an additional 314 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 acquiring an additional 78,048 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of AppFolio by 12.0% in the first quarter. Geode Capital Management LLC now owns 88,033 shares of the software maker’s stock worth $2,394,000 after acquiring an additional 9,458 shares in the last quarter. Finally, UBS Group AG lifted 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 acquiring an additional 3,629 shares in the last quarter. Institutional investors own 20.88% of the company’s stock.

About AppFolio

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.

Get a free copy of the Zacks research report on AppFolio (APPF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for AppFolio (NASDAQ:APPF)

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.