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

Key Points

• AppFolio has a consensus “Buy” rating from 12 analysts, including nine buys and two strong buys; the average 12-month price target is $243.50.
• The company’s latest quarterly results exceeded expectations, with $1.71 in earnings per share and $281.12 million in revenue, up 19.3% year over year.
• Institutional investors own 85.19% of AppFolio, while insiders have sold $34.7 million worth of shares over the past 90 days. The stock recently traded at $224.27, with a market capitalization of $7.94 billion.

Shares of AppFolio, Inc. (NASDAQ:APPF - Get Free Report) have earned a consensus rating of "Buy" from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $243.50.

A number of equities research analysts have recently weighed in on APPF shares. DA Davidson set a $225.00 target price on AppFolio in a research note on Friday, July 24th. Weiss Ratings upgraded AppFolio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Zacks Research raised shares of AppFolio from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. KeyCorp restated an "overweight" rating on shares of AppFolio in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 7,200 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $180.32, for a total value of $1,298,304.00. Following the completion of the transaction, the insider owned 42,400 shares in the company, valued at $7,645,568. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 179,612 shares of company stock valued at $34,697,503 over the last ninety days. 1.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its stake in shares of AppFolio by 16,264.8% during the 2nd quarter. California State Teachers Retirement System now owns 4,216,564 shares of the software maker's stock worth $676,126,000 after acquiring an additional 4,190,798 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of AppFolio by 20.9% in the 1st 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. Wellington Management Group LLP purchased a new stake in shares of AppFolio in the 2nd quarter worth $36,063,000. Lead Edge Capital Management LLC bought a new position in AppFolio in the 1st quarter worth $33,183,000. Finally, Greenstone Partners & Co. LLC bought a new position in AppFolio in the 4th quarter worth $43,647,000. Hedge funds and other institutional investors own 85.19% of the company's stock.

AppFolio Stock Performance

Shares of APPF opened at $224.27 on Thursday. AppFolio has a fifty-two week low of $142.56 and a fifty-two week high of $288.73. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 51.20 and a beta of 0.85. The firm has a 50 day moving average price of $189.81 and a 200-day moving average price of $173.21.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, beating the consensus estimate of $1.69 by $0.02. The company had revenue of $281.12 million for the quarter, compared to analyst estimates of $277.35 million. AppFolio had a net margin of 15.13% and a return on equity of 32.42%. The firm's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. As a group, equities research analysts predict that AppFolio will post 5.17 earnings per share for the current 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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