AppFolio (NASDAQ:APPF) Releases Earnings Results, Beats Expectations By $0.26 EPS

AppFolio (NASDAQ:APPF - Get Free Report) posted its quarterly earnings data on Thursday. The software maker reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.26, Briefing.com reports. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. During the same period in the prior year, the firm posted $0.26 EPS. The company's quarterly revenue was up 24.5% on a year-over-year basis. AppFolio updated its FY 2024 guidance to EPS.

AppFolio Stock Performance

NASDAQ:APPF traded up $20.27 on Friday, hitting $212.34. The stock had a trading volume of 894,181 shares, compared to its average volume of 281,676. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56. The firm's fifty day simple moving average is $223.73 and its two-hundred day simple moving average is $231.12. The stock has a market cap of $7.69 billion, a P/E ratio of 103.60 and a beta of 0.81.

Insider Activity at AppFolio

In other AppFolio news, insider Matthew S. Mazza sold 2,371 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $221.22, for a total value of $524,512.62. Following the transaction, the insider now owns 39,980 shares of the company's stock, valued at approximately $8,844,375.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Maurice J. Duca sold 1,296 shares of AppFolio stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total value of $306,853.92. Following the completion of the transaction, the insider now directly owns 9,383 shares in the company, valued at approximately $2,221,612.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew S. Mazza sold 2,371 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the sale, the insider now directly owns 39,980 shares in the company, valued at $8,844,375.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,852 shares of company stock valued at $4,100,322. 9.15% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an "overweight" rating in a research report on Wednesday, July 17th. DA Davidson boosted their price target on shares of AppFolio from $285.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Piper Sandler reduced their price objective on shares of AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a report on Friday. StockNews.com downgraded shares of AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Finally, KeyCorp dropped their price target on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, AppFolio has a consensus rating of "Moderate Buy" and a consensus target price of $261.75.

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.