AppFolio (NASDAQ:APPF) Stock Rating Upgraded by Keefe, Bruyette & Woods

Key Points

• AppFolio has been upgraded to an "outperform" rating by Keefe, Bruyette & Woods, with a price objective of $311.00, indicating a potential upside of 29.83% from its current price.
• Other analysts, including KeyCorp and Piper Sandler, have also upgraded their ratings on AppFolio, resulting in an average price target of $318.20 among analysts.
• AppFolio reported a strong earnings performance with a 23.54% net margin and year-over-year revenue growth of 19.4%, highlighting its profitability and operational efficiency.

AppFolio (NASDAQ:APPF - Get Free Report) was upgraded by Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research note issued on Friday,Finviz reports. The firm presently has a $311.00 price objective on the software maker's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 29.83% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. KeyCorp upgraded AppFolio from a "sector weight" rating to an "overweight" rating and set a $285.00 price target for the company in a report on Friday, October 17th. DA Davidson restated a "buy" rating and issued a $350.00 price target on shares of AppFolio in a research report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of AppFolio in a research report on Wednesday, October 8th. Finally, Piper Sandler raised shares of AppFolio from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AppFolio presently has an average rating of "Buy" and an average price target of $318.20.

AppFolio Price Performance

APPF opened at $239.55 on Friday. AppFolio has a 12-month low of $189.01 and a 12-month high of $326.04. The stock has a market capitalization of $8.59 billion, a PE ratio of 43.24 and a beta of 0.83. The firm's fifty day moving average price is $263.41 and its 200 day moving average price is $243.64.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.11. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The company had revenue of $235.58 million during the quarter, compared to the consensus estimate of $230.10 million. During the same quarter in the previous year, the firm earned $1.12 EPS. The company's revenue was up 19.4% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that AppFolio will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, major shareholder Klaus Schauser sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $295.14, for a total value of $885,420.00. Following the sale, the insider directly owned 300,000 shares in the company, valued at $88,542,000. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 3,100 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $321.38, for a total value of $996,278.00. Following the transaction, the insider owned 42,400 shares of the company's stock, valued at $13,626,512. This trade represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,803 shares of company stock valued at $16,938,949 in the last ninety days. Company insiders own 4.68% of the company's stock.

Institutional Investors Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank lifted its holdings in AppFolio by 58.7% in the second quarter. Huntington National Bank now owns 200 shares of the software maker's stock worth $46,000 after purchasing an additional 74 shares during the period. Farther Finance Advisors LLC raised its position in shares of AppFolio by 2,200.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 184 shares of the software maker's stock worth $51,000 after buying an additional 176 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of AppFolio in the 2nd quarter worth approximately $52,000. Caitong International Asset Management Co. Ltd bought a new position in shares of AppFolio in the first quarter valued at approximately $55,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of AppFolio during the second quarter valued at approximately $55,000. 85.19% of the stock is currently 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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