Recent Analysts’ Ratings Updates for AppFolio (APPF)

AppFolio (NASDAQ: APPF) recently received a number of ratings updates from brokerages and research firms:

• 8/31/2023 – AppFolio was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $230.00 price target on the stock, up previously from $155.00.
• 8/28/2023 – AppFolio was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating.
• 8/21/2023 – AppFolio was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating. They now have a $212.00 price target on the stock, up previously from $184.00.
• 8/18/2023 – AppFolio had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $184.00 price target on the stock.
• 8/17/2023 – AppFolio is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $200.00 price target on the stock.
• 8/17/2023 – AppFolio is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/31/2023 – AppFolio had its price target raised by analysts at DA Davidson from $117.00 to $155.00. They now have a “neutral” rating on the stock.
• 7/28/2023 – AppFolio had its price target raised by analysts at KeyCorp from $190.00 to $210.00. They now have an “overweight” rating on the stock.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded down $1.84 during midday trading on Wednesday, hitting $195.00. The company’s stock had a trading volume of 51,176 shares, compared to its average volume of 120,779. AppFolio, Inc. has a fifty-two week low of $93.02 and a fifty-two week high of $201.91. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -88.64 and a beta of 0.95. The stock’s 50 day simple moving average is $180.13 and its 200 day simple moving average is $152.73.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.63). The business had revenue of $147.08 million for the quarter, compared to analyst estimates of $143.76 million. AppFolio had a negative return on equity of 31.03% and a negative net margin of 14.63%. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.86) earnings per share. As a group, analysts anticipate that AppFolio, Inc. will post -0.25 EPS for the current year.

Insider Buying and Selling at AppFolio

In other news, Director Janet Kerr sold 250 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $172.46, for a total transaction of $43,115.00. Following the transaction, the director now owns 16,876 shares in the company, valued at approximately $2,910,434.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

A number of institutional investors and hedge funds have recently modified their holdings of APPF. Dark Forest Capital Management LP raised its position in AppFolio by 1,472.2% in the fourth quarter. Dark Forest Capital Management LP now owns 283 shares of the software maker’s stock worth $30,000 after purchasing an additional 265 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of AppFolio in the 1st quarter worth approximately $30,000. First Horizon Advisors Inc. lifted its position in shares of AppFolio by 2,922.2% during the 1st quarter. First Horizon Advisors Inc. now owns 272 shares of the software maker’s stock worth $34,000 after buying an additional 263 shares during the period. Federated Hermes Inc. acquired a new stake in AppFolio in the 1st quarter valued at $39,000. Finally, Assetmark Inc. bought a new stake in AppFolio in the first quarter valued at $45,000. 48.96% of the stock is currently owned by institutional investors.

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.