AppFolio, Inc. (NASDAQ:APPF) Receives Average Recommendation of "Moderate Buy" from Brokerages

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) has earned an average rating of "Moderate Buy" from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $274.43.

Several research analysts have weighed in on APPF shares. DA Davidson upgraded AppFolio to a "strong-buy" rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods decreased their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Stephens restated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a research report on Friday, January 31st. William Blair restated an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. Finally, Piper Sandler restated a "neutral" rating and issued a $265.00 price target on shares of AppFolio in a research report on Wednesday, April 23rd.

AppFolio Trading Down 3.4%

APPF stock traded down $7.28 during trading hours on Friday, hitting $206.19. 160,404 shares of the stock were exchanged, compared to its average volume of 271,517. The firm has a market capitalization of $7.43 billion, a P/E ratio of 37.15 and a beta of 0.99. The company has a 50-day simple moving average of $217.03 and a two-hundred day simple moving average of $231.22. AppFolio has a 12 month low of $189.01 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $217.70 million for the quarter, compared to the consensus estimate of $220.95 million. AppFolio had a return on equity of 26.21% and a net margin of 25.69%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. On average, equities research analysts predict that AppFolio will post 3.96 earnings per share for the current year.

Insider Activity

In other news, CEO William Shane Trigg sold 5,900 shares of AppFolio stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $211.45, for a total transaction of $1,247,555.00. Following the sale, the chief executive officer now directly owns 70,647 shares of the company's stock, valued at approximately $14,938,308.15. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Mathias Eaton sold 1,057 shares of AppFolio stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $221.13, for a total value of $233,734.41. Following the sale, the chief financial officer now directly owns 7,176 shares in the company, valued at $1,586,828.88. The trade was a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.24% of the company's stock.

Hedge Funds Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Impact Advisors LLC acquired a new position in shares of AppFolio in the first quarter worth approximately $5,819,000. Bayforest Capital Ltd lifted its stake in shares of AppFolio by 41.9% in the first quarter. Bayforest Capital Ltd now owns 1,534 shares of the software maker's stock worth $337,000 after acquiring an additional 453 shares during the period. Woodline Partners LP lifted its stake in shares of AppFolio by 2.9% in the first quarter. Woodline Partners LP now owns 1,754 shares of the software maker's stock worth $386,000 after acquiring an additional 50 shares during the period. United Services Automobile Association acquired a new position in shares of AppFolio in the first quarter worth approximately $311,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of AppFolio by 322.5% in the first quarter. Goldman Sachs Group Inc. now owns 66,777 shares of the software maker's stock worth $14,684,000 after acquiring an additional 50,970 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

AppFolio Company Profile

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.