AppFolio, Inc. (NASDAQ:APPF) Given Average Rating of “Moderate Buy” by Analysts

Shares of AppFolio, Inc. (NASDAQ:APPF) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $252.2857.

Several research analysts have recently commented on APPF shares. Benchmark lifted their price objective on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Piper Sandler decreased their price objective on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. Keefe, Bruyette & Woods decreased their price objective on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. DA Davidson decreased their price objective on AppFolio from $325.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th.

AppFolio Price Performance

NASDAQ APPF opened at $164.92 on Tuesday. The stock’s 50-day simple moving average is $160.14 and its two-hundred day simple moving average is $195.26. AppFolio has a twelve month low of $142.73 and a twelve month high of $326.04. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 39.27 and a beta of 0.82.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. The business had revenue of $262.21 million for the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share. On average, equities analysts expect that AppFolio will post 5.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William Shane Trigg sold 3,584 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $546,560.00. Following the sale, the chief executive officer directly owned 76,547 shares of the company’s stock, valued at $11,673,417.50. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total value of $312,761.36. Following the completion of the sale, the insider directly owned 21,545 shares in the company, valued at $3,406,695.40. The trade was a 8.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.57% of the stock is currently owned by insiders.

Institutional Trading of AppFolio

Large investors have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in shares of AppFolio by 22.6% during the first quarter. Royal Bank of Canada now owns 45,452 shares of the software maker’s stock valued at $9,993,000 after acquiring an additional 8,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AppFolio by 23.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock valued at $84,000 after acquiring an additional 73 shares in the last quarter. Millennium Management LLC raised its holdings in shares of AppFolio by 237.7% during the first quarter. Millennium Management LLC now owns 18,055 shares of the software maker’s stock valued at $3,970,000 after acquiring an additional 12,709 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of AppFolio by 164.8% during the first quarter. Jones Financial Companies Lllp now owns 654 shares of the software maker’s stock valued at $144,000 after acquiring an additional 407 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of AppFolio by 322.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker’s stock valued at $14,684,000 after acquiring an additional 50,970 shares in the last quarter. 85.19% of the stock is owned by institutional investors.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.