AppFolio (NASDAQ:APPF) Receives "Buy (B-)" Rating from Weiss Ratings

Key Points

• AppFolio received a "Buy (B-)" rating from Weiss Ratings, indicating positive investor sentiment towards the stock.
• Several analysts, including Piper Sandler and Keefe, Bruyette & Woods, raised their target prices for AppFolio, with the average target now at $311.80.
• In its latest earnings report, AppFolio beat estimates with $1.38 EPS and a revenue of $235.58 million, reflecting a significant year-over-year growth of 19.4%.

AppFolio (NASDAQ:APPF - Get Free Report)'s stock had its "buy (b-)" rating restated by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler raised AppFolio from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $240.00 to $350.00 in a research report on Friday, August 1st. Keefe, Bruyette & Woods lifted their target price on AppFolio from $295.00 to $311.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 3rd. Finally, DA Davidson reissued a "buy" rating and set a $350.00 target price on shares of AppFolio in a research report on Friday, August 1st. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $311.80.

AppFolio Trading Down 2.0%

AppFolio stock traded down $4.87 during mid-day trading on Wednesday, hitting $234.65. 325,512 shares of the company's stock were exchanged, compared to its average volume of 305,921. The stock has a market cap of $8.41 billion, a P/E ratio of 42.36 and a beta of 0.83. AppFolio has a 1-year low of $189.01 and a 1-year high of $326.04. The stock has a 50 day moving average of $276.92 and a two-hundred day moving average of $242.97.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.11. The company had revenue of $235.58 million for the quarter, compared to the consensus estimate of $230.10 million. AppFolio had a return on equity of 26.32% and a net margin of 23.54%.The firm's revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, research analysts predict that AppFolio will post 3.96 EPS for the current fiscal year.

Insider Activity

In other AppFolio news, major shareholder Klaus Schauser sold 3,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the sale, the insider owned 300,000 shares in the company, valued at approximately $88,542,000. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Shane Trigg sold 4,000 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total transaction of $1,107,800.00. Following the completion of the transaction, the chief executive officer directly owned 59,556 shares of the company's stock, valued at $16,494,034.20. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,803 shares of company stock worth $16,938,949. Insiders own 4.68% of the company's stock.

Institutional Investors Weigh In On AppFolio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its holdings in AppFolio by 0.7% during the first quarter. Rhumbline Advisers now owns 64,229 shares of the software maker's stock worth $14,124,000 after purchasing an additional 437 shares during the period. UMB Bank n.a. raised its holdings in AppFolio by 73.1% in the 1st quarter. UMB Bank n.a. now owns 289 shares of the software maker's stock valued at $64,000 after acquiring an additional 122 shares during the period. First Citizens Bank & Trust Co. bought a new position in AppFolio in the 1st quarter valued at about $276,000. GAMMA Investing LLC raised its holdings in AppFolio by 110.1% in the 1st quarter. GAMMA Investing LLC now owns 353 shares of the software maker's stock valued at $78,000 after acquiring an additional 185 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in AppFolio by 40.7% in the 1st quarter. Handelsbanken Fonder AB now owns 7,600 shares of the software maker's stock valued at $1,671,000 after acquiring an additional 2,200 shares during the period. 85.19% of the stock is owned by institutional investors.

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.

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