DA Davidson Has Bullish Outlook for AppFolio FY2024 Earnings

AppFolio, Inc. (NASDAQ:APPF) – Equities research analysts at DA Davidson increased their FY2024 EPS estimates for AppFolio in a research note issued to investors on Wednesday, January 22nd. DA Davidson analyst G. Luria now forecasts that the software maker will post earnings per share of $3.26 for the year, up from their previous forecast of $3.25. The consensus estimate for AppFolio’s current full-year earnings is $3.20 per share. DA Davidson also issued estimates for AppFolio’s Q4 2024 earnings at $0.68 EPS.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share.

A number of other equities analysts have also weighed in on APPF. KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research report on Friday, January 10th. Piper Sandler cut AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price on the stock. in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, AppFolio currently has an average rating of “Hold” and a consensus target price of $268.57.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $257.62 on Thursday. The company has a market capitalization of $9.36 billion, a P/E ratio of 71.76 and a beta of 0.87. The company’s 50 day moving average price is $251.19 and its 200-day moving average price is $235.80. AppFolio has a 52-week low of $172.98 and a 52-week high of $274.56.

Institutional Trading of AppFolio

A number of institutional investors have recently modified their holdings of the company. Tidal Investments LLC boosted its position in AppFolio by 2.9% in the third quarter. Tidal Investments LLC now owns 1,425 shares of the software maker’s stock valued at $335,000 after buying an additional 40 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in AppFolio by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock valued at $158,000 after buying an additional 40 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of AppFolio by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock worth $152,000 after buying an additional 65 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in AppFolio by 16.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 725 shares of the software maker’s stock worth $171,000 after buying an additional 100 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors.

Insider Activity at AppFolio

In other AppFolio news, Director Scanlan Agnes Bundy sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total value of $127,710.00. Following the transaction, the director now owns 5,416 shares of the company’s stock, valued at $1,383,354.72. This represents a 8.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction on Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the sale, the chief executive officer now directly owns 74,327 shares of the company’s stock, valued at approximately $17,084,060.95. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,768 shares of company stock worth $5,744,891. 5.24% of the stock is owned by company insiders.

AppFolio Company Profile

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.