FY2024 Earnings Estimate for AppFolio Issued By DA Davidson

AppFolio, Inc. (NASDAQ:APPF - Free Report) - Analysts at DA Davidson upped their FY2024 earnings estimates for AppFolio in a research report issued on Wednesday, January 22nd. DA Davidson analyst G. Luria now anticipates that the software maker will post earnings of $3.26 per share for the year, up from their prior estimate of $3.25. The consensus estimate for AppFolio's current full-year earnings is $3.20 per share. DA Davidson also issued estimates for AppFolio's Q4 2024 earnings at $0.68 EPS.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share.

Other equities research analysts have also recently issued reports about the company. Piper Sandler cut AppFolio from an "overweight" rating to a "neutral" rating and set a $265.00 target price on the stock. in a research note on Monday, January 6th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Finally, KeyCorp cut shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $268.57.

AppFolio Stock Up 1.0 %

Shares of NASDAQ:APPF traded up $2.68 on Thursday, reaching $260.30. 144,471 shares of the company's stock were exchanged, compared to its average volume of 212,240. The business's 50-day moving average is $251.19 and its two-hundred day moving average is $235.80. AppFolio has a fifty-two week low of $172.98 and a fifty-two week high of $274.56. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 72.27 and a beta of 0.87.

Hedge Funds Weigh In On AppFolio

A number of institutional investors have recently modified their holdings of APPF. American Century Companies Inc. boosted its position in shares of AppFolio by 7.6% in the second quarter. American Century Companies Inc. now owns 3,631 shares of the software maker's stock valued at $888,000 after acquiring an additional 257 shares during the period. Dimensional Fund Advisors LP increased its holdings in AppFolio by 18.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 84,151 shares of the software maker's stock valued at $20,583,000 after buying an additional 13,110 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of AppFolio by 8.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 12,015 shares of the software maker's stock valued at $2,939,000 after buying an additional 887 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of AppFolio by 1.3% during the 2nd quarter. Amalgamated Bank now owns 10,945 shares of the software maker's stock worth $2,677,000 after acquiring an additional 144 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in AppFolio by 48.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,759 shares of the software maker's stock valued at $430,000 after acquiring an additional 574 shares during the period. Institutional investors own 85.19% of the company's stock.

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 700 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $255.50, for a total value of $178,850.00. Following the transaction, the insider now owns 27,566 shares in the company, valued at $7,043,113. The trade was a 2.48 % 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. Also, CEO William Shane Trigg sold 3,500 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the sale, the chief executive officer now directly owns 74,327 shares of the company's stock, valued at approximately $17,084,060.95. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,768 shares of company stock valued at $5,744,891. Company insiders own 5.24% of the company's stock.

AppFolio Company Profile

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.