Brokerages Set AppFolio Inc (APPF) Target Price at $56.00

Shares of AppFolio Inc (NASDAQ:APPF) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $56.00.

A number of equities research analysts recently commented on APPF shares. Zacks Investment Research upgraded AppFolio from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Thursday, August 2nd. BidaskClub downgraded AppFolio from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley upped their price objective on AppFolio from $52.00 to $56.00 and gave the company a “sell” rating in a report on Tuesday, July 31st. Finally, TheStreet upgraded AppFolio from a “c” rating to a “b-” rating in a report on Monday, June 25th.

NASDAQ APPF opened at $63.24 on Friday. The stock has a market capitalization of $2.68 billion, a P/E ratio of 225.86 and a beta of 0.90. AppFolio has a 12 month low of $37.56 and a 12 month high of $91.49.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Monday, July 30th. The software maker reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $47.24 million during the quarter, compared to the consensus estimate of $45.55 million. AppFolio had a return on equity of 20.10% and a net margin of 10.92%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, equities analysts expect that AppFolio will post 0.69 EPS for the current fiscal year.

In other AppFolio news, insider Jonathan Walker sold 30,000 shares of the stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $73.03, for a total value of $2,190,900.00. Following the completion of the sale, the insider now directly owns 30,000 shares in the company, valued at $2,190,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Rauth III sold 20,000 shares of the stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $63.40, for a total value of $1,268,000.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,268,000. The disclosure for this sale can be found here. Corporate insiders own 41.96% of the company’s stock.

Several institutional investors have recently made changes to their positions in APPF. Schwab Charles Investment Management Inc. increased its holdings in shares of AppFolio by 170.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 54,327 shares of the software maker’s stock worth $2,220,000 after acquiring an additional 34,238 shares in the last quarter. Northern Trust Corp increased its holdings in shares of AppFolio by 1.8% in the first quarter. Northern Trust Corp now owns 127,099 shares of the software maker’s stock worth $5,192,000 after acquiring an additional 2,220 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AppFolio by 406.0% in the first quarter. Dimensional Fund Advisors LP now owns 122,231 shares of the software maker’s stock worth $4,993,000 after acquiring an additional 98,076 shares in the last quarter. Blair William & Co. IL boosted its position in shares of AppFolio by 1.1% during the first quarter. Blair William & Co. IL now owns 109,900 shares of the software maker’s stock worth $4,489,000 after buying an additional 1,175 shares during the period. Finally, United Capital Financial Advisers LLC acquired a new position in shares of AppFolio during the first quarter worth about $332,000. Institutional investors own 29.94% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

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