AppFolio, Inc. (NASDAQ:APPF) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Analysts maintain a bullish outlook: AppFolio has a consensus “Buy” rating from 12 analysts, with nine buys, two strong buys, and one hold. The average 12-month price target is $243.50.
• Latest results exceeded expectations: AppFolio reported quarterly EPS of $1.71 versus the $1.69 consensus and revenue of $281.12 million, up 19.3% year over year. Shares opened at $198.74, with the stock trading well below its 52-week high of $300.25.
• Ownership activity was mixed: Institutional investors own 85.19% of the company and several major firms increased their stakes, while insiders sold 89,318 shares worth approximately $16.2 million over the past three months.

Shares of AppFolio, Inc. (NASDAQ:APPF - Get Free Report) have earned a consensus recommendation of "Buy" from the twelve ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $243.50.

A number of research analysts recently commented on the company. Piper Sandler lowered their price objective on AppFolio from $245.00 to $210.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. UBS Group set a $210.00 target price on AppFolio in a research note on Friday, April 24th. Zacks Research raised shares of AppFolio from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. DA Davidson set a $225.00 price target on shares of AppFolio in a research report on Friday, July 24th. Finally, Guggenheim assumed coverage on shares of AppFolio in a report on Wednesday, July 22nd. They issued a "buy" rating and a $232.00 price objective on the stock.

Insider Transactions at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,584 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $152.50, for a total value of $546,560.00. Following the completion of the transaction, the chief executive officer owned 76,547 shares in the company, valued at approximately $11,673,417.50. This represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Maurice J. Duca sold 7,200 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total transaction of $1,298,304.00. Following the completion of the sale, the insider owned 42,400 shares in the company, valued at $7,645,568. The trade was a 14.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 89,318 shares of company stock valued at $16,175,746 over the last three months. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of AppFolio

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in AppFolio by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 2,560,460 shares of the software maker's stock valued at $595,691,000 after acquiring an additional 101,466 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of AppFolio by 20.9% in the first quarter. Principal Financial Group Inc. now owns 1,505,882 shares of the software maker's stock worth $237,665,000 after purchasing an additional 259,933 shares in the last quarter. State Street Corp grew its stake in shares of AppFolio by 1.1% in the fourth quarter. State Street Corp now owns 685,656 shares of the software maker's stock worth $159,518,000 after purchasing an additional 7,585 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AppFolio by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 669,317 shares of the software maker's stock valued at $155,717,000 after purchasing an additional 98,230 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in shares of AppFolio by 15.6% during the fourth quarter. William Blair Investment Management LLC now owns 638,241 shares of the software maker's stock valued at $148,487,000 after purchasing an additional 86,272 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Stock Up 2.4%

Shares of APPF stock opened at $198.74 on Friday. The company has a market cap of $7.04 billion, a P/E ratio of 45.37 and a beta of 0.78. The business has a 50 day moving average of $169.70 and a two-hundred day moving average of $171.29. AppFolio has a 52 week low of $142.56 and a 52 week high of $300.25.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.02. The business had revenue of $281.12 million for the quarter, compared to analysts' expectations of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.The business's quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS. Analysts expect that AppFolio will post 5.16 EPS for the current fiscal year.

AppFolio Company Profile

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.

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