Brokerages Set AppFolio Inc (APPF) PT at $56.00

AppFolio Inc (NASDAQ:APPF) has received a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $61.00.

A number of equities analysts have weighed in on APPF shares. BidaskClub cut shares of AppFolio from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. TheStreet cut shares of AppFolio from a “b-” rating to a “c+” rating in a research report on Thursday, November 1st. Zacks Investment Research cut shares of AppFolio from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, DA Davidson started coverage on shares of AppFolio in a research report on Wednesday. They issued a “neutral” rating and a $66.00 price objective for the company.

In other AppFolio news, insider Jonathan Walker sold 30,000 shares of the company’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $73.03, for a total value of $2,190,900.00. Following the completion of the transaction, the insider now directly owns 30,000 shares of the company’s stock, valued at approximately $2,190,900. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William R. Rauth III sold 20,000 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $63.40, for a total transaction of $1,268,000.00. Following the completion of the transaction, the director now directly 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.

A number of large investors have recently bought and sold shares of APPF. Victory Capital Management Inc. lifted its position in shares of AppFolio by 15.9% during the second quarter. Victory Capital Management Inc. now owns 6,476 shares of the software maker’s stock worth $396,000 after purchasing an additional 888 shares during the last quarter. Cavalier Investments LLC lifted its position in shares of AppFolio by 56.1% during the second quarter. Cavalier Investments LLC now owns 19,200 shares of the software maker’s stock worth $1,174,000 after purchasing an additional 6,900 shares during the last quarter. Navellier & Associates Inc lifted its position in shares of AppFolio by 36.4% during the second quarter. Navellier & Associates Inc now owns 40,714 shares of the software maker’s stock worth $2,490,000 after purchasing an additional 10,862 shares during the last quarter. Granite Investment Partners LLC bought a new position in shares of AppFolio during the second quarter worth about $16,046,000. Finally, Rhumbline Advisers lifted its position in shares of AppFolio by 58.9% during the second quarter. Rhumbline Advisers now owns 14,264 shares of the software maker’s stock worth $872,000 after purchasing an additional 5,285 shares during the last quarter. 30.62% of the stock is owned by institutional investors.

Shares of NASDAQ APPF opened at $60.07 on Wednesday. AppFolio has a 12-month low of $37.56 and a 12-month high of $91.49. The firm has a market capitalization of $2.08 billion, a P/E ratio of 214.54 and a beta of 1.41.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Monday, October 29th. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.05). AppFolio had a net margin of 11.20% and a return on equity of 20.57%. The company had revenue of $50.13 million during the quarter, compared to analyst estimates of $47.72 million. The company’s quarterly revenue was up 32.2% on a year-over-year basis. Equities analysts anticipate that AppFolio will post 0.63 earnings per share for the current year.

About AppFolio

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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