AppFolio (NASDAQ:APPF) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of AppFolio (NASDAQ:APPFGet Rating) from a hold rating to a sell rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “AppFolio, Inc. offers cloud-based software solutions for property management and legal industries. It offers AppFolio Property Manager, a solution for the property managers including activities of posting and tracking tenant vacancies, handling the entire leasing process electronically, administering maintenance and repairs with their vendor networks, managing accounting and reporting to property owners. MyCase solution for practitioners and small law firms, providing time tracking, billing and payments, client communication, coordination with other lawyers and support staff, legal document management and assembly and general office administration services. Value+ services include Websites and electronic payment services. AppFolio, Inc. is headquartered Goleta, California. “

A number of other brokerages have also commented on APPF. KeyCorp raised AppFolio from a sector weight rating to an overweight rating and set a $143.00 price target for the company in a research note on Friday, April 8th. StockNews.com lowered AppFolio from a hold rating to a sell rating in a research note on Wednesday, May 18th. Finally, Stephens raised AppFolio from an underweight rating to an equal weight rating and increased their price target for the company from $105.00 to $107.00 in a research note on Tuesday, February 8th.

NASDAQ:APPF opened at $97.34 on Thursday. AppFolio has a 12-month low of $79.92 and a 12-month high of $150.78. The stock has a 50-day moving average price of $106.65 and a 200 day moving average price of $115.12. The stock has a market capitalization of $3.39 billion, a P/E ratio of -249.59 and a beta of 1.03.

AppFolio (NASDAQ:APPFGet Rating) last announced its quarterly earnings results on Monday, May 9th. The software maker reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.36). AppFolio had a negative net margin of 3.56% and a negative return on equity of 4.72%. During the same period in the prior year, the business earned $0.01 EPS. Research analysts predict that AppFolio will post -1.6 EPS for the current year.

In other news, Director Janet Kerr sold 550 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $92.61, for a total value of $50,935.50. Following the completion of the sale, the director now directly owns 16,498 shares of the company’s stock, valued at approximately $1,527,879.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 36.02% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in shares of AppFolio in the first quarter worth approximately $39,000. Point72 Hong Kong Ltd purchased a new stake in shares of AppFolio in the third quarter worth approximately $48,000. Nisa Investment Advisors LLC raised its holdings in shares of AppFolio by 170.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 540 shares of the software maker’s stock worth $62,000 after buying an additional 340 shares during the period. Ensign Peak Advisors Inc purchased a new stake in shares of AppFolio in the fourth quarter worth approximately $88,000. Finally, UBS Group AG raised its holdings in shares of AppFolio by 775.5% in the third quarter. UBS Group AG now owns 1,287 shares of the software maker’s stock worth $155,000 after buying an additional 1,140 shares during the period. Hedge funds and other institutional investors own 66.03% of the company’s stock.

AppFolio Company Profile (Get Rating)

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.

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