AppFolio, Inc. (NASDAQ:APPF) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

A number of brokerages have weighed in on APPF. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Piper Sandler lowered their price target on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Weiss Ratings downgraded AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Benchmark lifted their price objective on AppFolio from $222.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, UBS Group set a $210.00 price target on shares of AppFolio in a research note on Friday, April 24th.

AppFolio Price Performance

Shares of NASDAQ:APPF opened at $151.50 on Friday. The business’s fifty day moving average price is $160.61 and its two-hundred day moving average price is $185.50. AppFolio has a fifty-two week low of $142.73 and a fifty-two week high of $326.04. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 36.07 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced 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. AppFolio had a return on equity of 32.35% and a net margin of 15.27%.The firm had revenue of $262.21 million for the quarter, compared to analysts’ expectations of $258.13 million. During the same period in the prior year, the business posted $1.21 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. Research analysts expect that AppFolio will post 5.04 EPS for the current fiscal year.

Insider Transactions at AppFolio

In other news, General Counsel Evan Pickering sold 660 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $155.25, for a total transaction of $102,465.00. Following the completion of the sale, the general counsel owned 6,555 shares in the company, valued at $1,017,663.75. The trade was a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Timothy Mathias Eaton sold 2,585 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $160.07, for a total value of $413,780.95. Following the sale, the chief financial officer owned 18,036 shares of the company’s stock, valued at approximately $2,887,022.52. The trade was a 12.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 8,957 shares of company stock worth $1,399,501. Insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On AppFolio

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of AppFolio by 1,913.2% during the first quarter. Pacer Advisors Inc. now owns 71,790 shares of the software maker’s stock worth $11,330,000 after acquiring an additional 68,224 shares during the last quarter. Optiver Holding B.V. raised its position in shares of AppFolio by 827.8% during the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. Bank of America Corp DE raised its position in shares of AppFolio by 21.7% during the first quarter. Bank of America Corp DE now owns 345,603 shares of the software maker’s stock worth $54,543,000 after acquiring an additional 61,641 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of AppFolio by 90.6% during the first quarter. Edgestream Partners L.P. now owns 70,110 shares of the software maker’s stock worth $11,065,000 after acquiring an additional 33,331 shares during the last quarter. Finally, South Dakota Investment Council raised its position in shares of AppFolio by 37.0% during the first quarter. South Dakota Investment Council now owns 6,660 shares of the software maker’s stock worth $1,051,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors own 85.19% of the company’s stock.

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.