Keefe, Bruyette & Woods Increases AppFolio (NASDAQ:APPF) Price Target to $238.00

AppFolio (NASDAQ:APPF) had its price target raised by equities researchers at Keefe, Bruyette & Woods from $215.00 to $238.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the software maker’s stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 1.96% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. KeyCorp raised their target price on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday. Stephens reaffirmed an “overweight” rating and set a $241.00 target price on shares of AppFolio in a report on Friday, January 26th. BTIG Research assumed coverage on shares of AppFolio in a report on Friday, January 19th. They set a “buy” rating and a $215.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

AppFolio Stock Performance

Shares of APPF stock opened at $242.75 on Friday. The firm’s 50-day moving average is $229.59 and its 200-day moving average is $205.11. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 117.27 and a beta of 0.80. AppFolio has a 52-week low of $123.36 and a 52-week high of $256.73.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.29. The firm had revenue of $171.83 million during the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. Sell-side analysts predict that AppFolio will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the sale, the director now owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the sale, the director now owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now directly owns 5,449 shares in the company, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,489 shares of company stock valued at $3,531,011. 9.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppFolio

Hedge funds have recently modified their holdings of the business. Verdence Capital Advisors LLC lifted its holdings in AppFolio by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock valued at $366,000 after buying an additional 55 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in AppFolio by 70.4% in the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after buying an additional 57 shares during the period. Arizona State Retirement System lifted its holdings in AppFolio by 1.9% in the third quarter. Arizona State Retirement System now owns 5,321 shares of the software maker’s stock valued at $972,000 after buying an additional 101 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in AppFolio by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock valued at $639,000 after buying an additional 116 shares during the period. Finally, Zeno Equity Partners LLP acquired a new position in AppFolio in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

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.