Analysts Set AppFolio, Inc. (NASDAQ:APPF) Price Target at $252.29

AppFolio, Inc. (NASDAQ:APPF) has been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $252.2857.

Several analysts recently issued reports on APPF shares. Wall Street Zen raised shares of AppFolio from a “hold” rating to a “buy” rating in a report on Sunday, March 15th. Benchmark upped their price objective on shares of AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of AppFolio from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. UBS Group set a $210.00 price objective on shares of AppFolio in a report on Friday, April 24th. Finally, Piper Sandler decreased their price objective on shares of AppFolio from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, April 24th.

AppFolio Stock Up 7.5%

APPF stock opened at $155.64 on Friday. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 37.06 and a beta of 0.80. AppFolio has a 12 month low of $142.56 and a 12 month high of $326.04. The firm has a 50 day moving average of $160.53 and a two-hundred day moving average of $182.52.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, April 23rd. The software maker reported $1.61 EPS for the quarter, topping the consensus estimate of $1.47 by $0.14. The company had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. On average, research analysts expect that AppFolio will post 5.04 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Evan Pickering sold 660 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $155.25, for a total transaction of $102,465.00. Following the completion of the transaction, the general counsel directly owned 6,555 shares in the company, valued at $1,017,663.75. This represents a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $158.12, for a total transaction of $312,761.36. Following the transaction, the insider owned 21,545 shares of the company’s stock, valued at approximately $3,406,695.40. The trade was a 8.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 8,957 shares of company stock valued at $1,399,501 in the last quarter. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in AppFolio by 101.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Optiver Holding B.V. raised its stake in AppFolio by 827.8% during the 1st quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in AppFolio by 48.8% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock valued at $53,000 after purchasing an additional 63 shares during the last quarter. Advisory Services Network LLC acquired a new position in AppFolio during the 3rd quarter valued at $55,000. Finally, Employees Retirement System of Texas acquired a new position in AppFolio during the 3rd quarter valued at $58,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

AppFolio Company Profile

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.