Analysts Set AppFolio, Inc. (NASDAQ:APPF) Price Target at $270.83

AppFolio, Inc. (NASDAQ:APPF) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $270.8333.

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. Wall Street Zen raised AppFolio from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings downgraded AppFolio from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, January 16th. Piper Sandler reduced their price objective on shares of AppFolio from $350.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, KeyCorp reissued an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd.

AppFolio Price Performance

APPF stock opened at $172.23 on Friday. The firm has a market cap of $6.20 billion, a PE ratio of 44.39 and a beta of 0.75. AppFolio has a 12 month low of $166.36 and a 12 month high of $326.04. The firm has a 50 day simple moving average of $211.74 and a 200 day simple moving average of $240.13.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 29th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.17. AppFolio had a return on equity of 29.79% and a net margin of 14.82%.The company had revenue of $248.19 million for the quarter, compared to analysts’ expectations of $246.56 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis. As a group, sell-side analysts expect that AppFolio will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In other AppFolio news, CEO William Shane Trigg sold 6,963 shares of AppFolio stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the transaction, the chief executive officer directly owned 52,920 shares in the company, valued at approximately $8,982,111.60. The trade was a 11.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Mathias Eaton sold 517 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $228.34, for a total transaction of $118,051.78. Following the sale, the chief financial officer directly owned 10,104 shares in the company, valued at approximately $2,307,147.36. This trade represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew 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. boosted its holdings in shares of AppFolio by 6.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,245,949 shares of the software maker’s stock worth $289,880,000 after purchasing an additional 79,197 shares during the period. William Blair Investment Management LLC grew its position in AppFolio by 73.6% during the second quarter. William Blair Investment Management LLC now owns 733,428 shares of the software maker’s stock valued at $168,894,000 after purchasing an additional 310,834 shares in the last quarter. State Street Corp increased its stake in AppFolio by 1.1% in the 4th quarter. State Street Corp now owns 685,656 shares of the software maker’s stock valued at $159,518,000 after buying an additional 7,585 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in AppFolio by 17.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 669,317 shares of the software maker’s stock valued at $155,717,000 after buying an additional 98,230 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.

About AppFolio

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.