DA Davidson Comments on AppFolio, Inc.’s Q2 2024 Earnings (NASDAQ:APPF)

AppFolio, Inc. (NASDAQ:APPF) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for AppFolio in a report issued on Friday, April 26th. DA Davidson analyst G. Luria expects that the software maker will earn $0.64 per share for the quarter. The consensus estimate for AppFolio’s current full-year earnings is $2.72 per share. DA Davidson also issued estimates for AppFolio’s FY2024 earnings at $2.83 EPS and FY2025 earnings at $4.03 EPS.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. The company had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised their price target on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday. BTIG Research assumed coverage on AppFolio in a report on Friday, January 19th. They issued a “buy” rating and a $215.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Stephens restated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research report on Friday. Finally, KeyCorp upped their target price on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, AppFolio presently has an average rating of “Moderate Buy” and an average price target of $241.00.

AppFolio Trading Up 12.0 %

AppFolio stock opened at $242.75 on Monday. The company has a fifty day simple moving average of $229.59 and a 200-day simple moving average of $205.22. The stock has a market cap of $8.71 billion, a P/E ratio of 117.27 and a beta of 0.80. AppFolio has a 12-month low of $123.36 and a 12-month high of $256.73.

Insider Transactions at AppFolio

In related news, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares in the company, valued at approximately $1,234,525.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Timothy K. Bliss sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the transaction, the director now owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the sale, the director now directly owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,489 shares of company stock worth $3,531,011. Insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

Several institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of AppFolio by 497.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock valued at $7,545,000 after acquiring an additional 36,265 shares in the last quarter. WCM Investment Management LLC purchased a new stake in AppFolio in the 4th quarter valued at approximately $12,941,000. Long Walk Management LP increased its position in AppFolio by 62.7% during the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock worth $21,135,000 after purchasing an additional 47,000 shares during the period. Syon Capital LLC purchased a new position in shares of AppFolio during the 4th quarter worth approximately $9,930,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of AppFolio by 103.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker’s stock valued at $6,043,000 after buying an additional 17,706 shares during the period. 62.34% of the stock is owned by institutional investors and hedge funds.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.