AppFolio, Inc. (NASDAQ:APPF) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of AppFolio, Inc. (NASDAQ:APPF) have been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $270.8333.

A number of research analysts have commented on APPF shares. Keefe, Bruyette & Woods decreased their target price on shares of AppFolio from $311.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, January 30th. KeyCorp reiterated an “overweight” rating on shares of AppFolio in a research report on Monday, February 2nd. Wells Fargo & Company restated a “buy” rating on shares of AppFolio in a report on Thursday, January 15th. UBS Group set a $260.00 price objective on shares of AppFolio and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, DA Davidson dropped their target price on shares of AppFolio from $325.00 to $275.00 and set a “buy” rating for the company in a report on Friday, January 30th.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 6,963 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $169.73, for a total transaction of $1,181,829.99. Following the completion of the transaction, the chief executive officer directly owned 52,920 shares in the company, valued at $8,982,111.60. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppFolio

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in AppFolio by 4.1% in 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. lifted its position 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 in the last quarter. State Street Corp lifted its position in shares of AppFolio by 1.1% during 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 boosted its stake in shares of AppFolio by 17.2% in 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 boosted its stake in shares of AppFolio by 15.6% in 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. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Stock Down 1.2%

APPF stock opened at $170.40 on Thursday. AppFolio has a 52-week low of $161.13 and a 52-week high of $326.04. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 43.92 and a beta of 0.75. The business has a fifty day moving average of $194.13 and a two-hundred day moving average of $228.87.

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