AppFolio, Inc. (NASDAQ:APPF) Given Consensus Rating of "Moderate Buy" by Analysts

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $261.75.

APPF has been the subject of several analyst reports. KeyCorp cut their price objective on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Piper Sandler reduced their target price on AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods cut AppFolio from a "market perform" rating to an "underperform" rating and decreased their price target for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, StockNews.com cut shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Thursday, August 22nd.

AppFolio Stock Down 0.8 %

NASDAQ APPF traded down $2.14 during trading hours on Tuesday, reaching $261.51. 172,305 shares of the company were exchanged, compared to its average volume of 268,878. The stock has a market capitalization of $9.50 billion, a P/E ratio of 72.84 and a beta of 0.86. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56. The business's 50 day simple moving average is $232.46 and its 200-day simple moving average is $233.25.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio's revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. As a group, sell-side analysts anticipate that AppFolio will post 3.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Matthew S. Mazza sold 700 shares of AppFolio stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $255.50, for a total value of $178,850.00. Following the transaction, the insider now directly owns 27,566 shares of the company's stock, valued at $7,043,113. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Maurice J. Duca sold 200 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total transaction of $46,436.00. Following the completion of the transaction, the insider now owns 18,922 shares in the company, valued at $4,393,309.96. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,806 shares of company stock valued at $7,164,293. 5.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppFolio

Institutional investors and hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC raised its holdings in AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock worth $108,116,000 after purchasing an additional 207,204 shares in the last quarter. Retirement Systems of Alabama boosted its stake in AppFolio by 7.9% during the 3rd quarter. Retirement Systems of Alabama now owns 27,950 shares of the software maker's stock valued at $6,579,000 after purchasing an additional 2,047 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of AppFolio by 31.2% during the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after buying an additional 54,386 shares during the last quarter. Tidal Investments LLC raised its position in AppFolio by 2.9% in the 3rd quarter. Tidal Investments LLC now owns 1,425 shares of the software maker's stock worth $335,000 after buying an additional 40 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of AppFolio during the third quarter valued at approximately $687,000. Hedge funds and other institutional investors own 85.19% 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.