AppFolio, Inc. (NASDAQ:APPF) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of AppFolio, Inc. (NASDAQ:APPF) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $274.43.

Several analysts recently weighed in on APPF shares. Keefe, Bruyette & Woods reduced their target price on shares of AppFolio from $210.00 to $205.00 and set an “underweight” rating on the stock in a report on Friday, April 25th. DA Davidson upgraded shares of AppFolio to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research report on Wednesday, April 23rd.

AppFolio Trading Up 0.3%

Shares of NASDAQ APPF opened at $217.95 on Tuesday. The stock has a market cap of $7.85 billion, a P/E ratio of 39.27 and a beta of 0.87. The business’s fifty day simple moving average is $214.91 and its 200-day simple moving average is $229.67. AppFolio has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, April 24th. The software maker reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The company had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. AppFolio’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. On average, equities analysts forecast that AppFolio will post 3.96 EPS for the current fiscal year.

Insider Activity at AppFolio

In other AppFolio news, Director Timothy K. Bliss bought 7,500 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $217.02 per share, for a total transaction of $1,627,650.00. Following the completion of the purchase, the director now owns 7,500 shares of the company’s stock, valued at approximately $1,627,650. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Donald Casey III purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of $217.73 per share, for a total transaction of $870,920.00. Following the transaction, the director now directly owns 27,856 shares in the company, valued at $6,065,086.88. This trade represents a 16.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 18,500 shares of company stock valued at $4,024,220 over the last ninety days. Insiders own 4.68% of the company’s stock.

Institutional Trading of AppFolio

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker’s stock worth $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in AppFolio in the 4th quarter valued at $103,503,000. Norges Bank purchased a new position in AppFolio during the 4th quarter worth $68,037,000. Principal Financial Group Inc. lifted its stake in shares of AppFolio by 121.2% in the 1st quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker’s stock worth $88,375,000 after acquiring an additional 220,239 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock valued at $161,756,000 after acquiring an additional 197,700 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

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.