Brokerages Expect AppFolio Inc (APPF) Will Announce Quarterly Sales of $35.49 Million
Wall Street analysts expect that AppFolio Inc (NASDAQ:APPF) will announce $35.49 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for AppFolio’s earnings. The highest sales estimate is $35.88 million and the lowest is $35.09 million. AppFolio reported sales of $28.01 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.7%. The firm is scheduled to report its next quarterly earnings report on Monday, February 26th.
On average, analysts expect that AppFolio will report full-year sales of $35.49 million for the current fiscal year, with estimates ranging from $141.00 million to $142.50 million. For the next financial year, analysts forecast that the business will post sales of $180.92 million per share, with estimates ranging from $177.42 million to $184.64 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow AppFolio.
AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Monday, November 6th. The software maker reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. AppFolio had a net margin of 4.37% and a return on equity of 7.91%. The company had revenue of $37.90 million during the quarter, compared to analyst estimates of $36.16 million. The company’s revenue for the quarter was up 34.6% on a year-over-year basis.
In other AppFolio news, insider Jonathan Walker sold 30,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $44.58, for a total transaction of $1,337,400.00. Following the completion of the sale, the insider now directly owns 1,554,025 shares of the company’s stock, valued at $69,278,434.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Janet Kerr sold 1,576 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $43.08, for a total transaction of $67,894.08. Following the sale, the director now directly owns 17,189 shares of the company’s stock, valued at $740,502.12. The disclosure for this sale can be found here. 44.77% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of AppFolio by 18.0% in the second quarter. Vanguard Group Inc. now owns 455,942 shares of the software maker’s stock worth $14,864,000 after purchasing an additional 69,664 shares in the last quarter. Glynn Capital Management LLC increased its holdings in AppFolio by 39.5% in the third quarter. Glynn Capital Management LLC now owns 348,804 shares of the software maker’s stock worth $16,725,000 after buying an additional 98,804 shares during the last quarter. Hood River Capital Management LLC acquired a new position in AppFolio in the third quarter worth approximately $11,494,000. Laurion Capital Management LP acquired a new position in AppFolio in the second quarter worth approximately $7,075,000. Finally, Wells Fargo & Company MN increased its holdings in AppFolio by 813.6% in the third quarter. Wells Fargo & Company MN now owns 171,069 shares of the software maker’s stock worth $8,201,000 after buying an additional 152,345 shares during the last quarter. 24.85% of the stock is owned by institutional investors.
AppFolio (APPF) traded up $0.70 during trading hours on Thursday, hitting $41.80. 79,500 shares of the stock traded hands, compared to its average volume of 103,697. AppFolio has a one year low of $21.63 and a one year high of $52.25. The company has a market cap of $1,395.18, a price-to-earnings ratio of 256.88 and a beta of 0.61.
COPYRIGHT VIOLATION WARNING: “Brokerages Expect AppFolio Inc (APPF) Will Announce Quarterly Sales of $35.49 Million” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/14/brokerages-expect-appfolio-inc-appf-will-announce-quarterly-sales-of-35-49-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AppFolio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppFolio and related companies with MarketBeat.com's FREE daily email newsletter.