AppFolio (NASDAQ:APPF) Price Target Raised to $275.00 at KeyCorp

AppFolio (NASDAQ:APPF) had its price target boosted by stock analysts at KeyCorp from $264.00 to $275.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price target would suggest a potential upside of 26.93% from the company’s previous close.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. lifted their target price on AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. BTIG Research began coverage on AppFolio in a research report on Friday, January 19th. They set a “buy” rating and a $215.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research report on Friday, January 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.60.

AppFolio Trading Up 0.3 %

AppFolio stock opened at $216.65 on Friday. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 7,224.07 and a beta of 0.80. The stock has a fifty day simple moving average of $229.89 and a two-hundred day simple moving average of $204.61. AppFolio has a 12 month low of $123.36 and a 12 month high of $253.42.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.29. The business had revenue of $171.83 million during the quarter, compared to analyst estimates of $162.80 million. AppFolio had a negative return on equity of 8.58% and a net margin of 0.44%. On average, equities research analysts forecast that AppFolio will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the sale, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Olivia Nottebohm sold 989 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the completion of the sale, the director now owns 1,909 shares in the company, valued at $461,500.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the sale, the director now owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders sold a total of 15,489 shares of company stock worth $3,531,011 over the last quarter. 9.15% of the stock is currently owned by corporate insiders.

Institutional Trading of AppFolio

Several institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in AppFolio during the fourth quarter valued at approximately $38,458,000. Zeno Equity Partners LLP bought a new stake in shares of AppFolio in the 4th quarter valued at approximately $33,434,000. Lord Abbett & CO. LLC bought a new stake in shares of AppFolio in the 3rd quarter valued at approximately $33,062,000. Assenagon Asset Management S.A. lifted its stake in shares of AppFolio by 344.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 155,127 shares of the software maker’s stock valued at $38,276,000 after purchasing an additional 120,246 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of AppFolio in the 4th quarter valued at approximately $18,636,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

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.