AppFolio, Inc. (NASDAQ:APPF) Receives $243.50 Consensus Target Price from Analysts

Shares of AppFolio, Inc. (NASDAQ:APPF) have earned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $243.50.

A number of brokerages have recently commented on APPF. Weiss Ratings raised AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. DA Davidson set a $225.00 target price on shares of AppFolio in a research report on Friday, July 24th. Zacks Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, KeyCorp restated an “overweight” rating on shares of AppFolio in a research report on Monday, July 6th.

AppFolio Stock Performance

NASDAQ APPF opened at $205.65 on Thursday. The firm’s fifty day moving average price is $195.45 and its two-hundred day moving average price is $174.52. The stock has a market cap of $7.28 billion, a PE ratio of 46.95 and a beta of 0.85. AppFolio has a fifty-two week low of $142.56 and a fifty-two week high of $285.61.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.02. The company had revenue of $281.12 million during the quarter, compared to analysts’ expectations of $277.35 million. AppFolio had a return on equity of 32.42% and a net margin of 15.13%.AppFolio’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.38 EPS. As a group, sell-side analysts predict that AppFolio will post 5.17 earnings per share for the current fiscal year.

Insider Activity at AppFolio

In related news, major shareholder Maurice Duca sold 7,200 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $180.32, for a total value of $1,298,304.00. Following the sale, the insider owned 42,400 shares of the company’s stock, valued at $7,645,568. The trade was a 14.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 179,612 shares of company stock worth $34,697,503 in the last quarter. 1.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in shares of AppFolio by 101.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock valued at $26,000 after buying an additional 56 shares during the period. Optiver Holding B.V. lifted its stake in shares of AppFolio by 827.8% in the first quarter. Optiver Holding B.V. now owns 167 shares of the software maker’s stock worth $26,000 after acquiring an additional 149 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of AppFolio by 48.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after acquiring an additional 63 shares during the period. Advisory Services Network LLC bought a new stake in AppFolio in the third quarter valued at approximately $55,000. Finally, Employees Retirement System of Texas bought a new stake in AppFolio in the third quarter valued at approximately $58,000. 85.19% of the stock is owned by institutional investors.

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.