AppFolio, Inc. (NASDAQ:APPF) Given Average Recommendation of “Buy” by Brokerages

Shares of AppFolio, Inc. (NASDAQ:APPF) have been given an average recommendation of “Buy” by the seven analysts that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $310.20.

APPF has been the topic of several recent research reports. Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and increased their target price for the company from $240.00 to $350.00 in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 price objective on the stock in a research report on Friday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. DA Davidson decreased their price target on shares of AppFolio from $375.00 to $325.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, KeyCorp lowered their price target on shares of AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a report on Friday, October 31st.

AppFolio Price Performance

Shares of AppFolio stock opened at $246.50 on Friday. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 44.25 and a beta of 0.83. The firm’s 50-day moving average is $256.30 and its two-hundred day moving average is $246.98. AppFolio has a 1 year low of $190.24 and a 1 year high of $326.04.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 30th. The software maker reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.14). AppFolio had a return on equity of 25.97% and a net margin of 22.48%.The business had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. During the same period in the previous year, the company posted $1.29 EPS. AppFolio’s revenue for the quarter was up 21.2% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. On average, equities analysts expect that AppFolio will post 3.96 earnings per share for the current year.

Insider Activity at AppFolio

In other news, CFO Timothy Mathias Eaton sold 667 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $276.58, for a total transaction of $184,478.86. Following the completion of the sale, the chief financial officer owned 11,142 shares in the company, valued at approximately $3,081,654.36. This represents a 5.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Matthew S. Mazza sold 1,636 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $276.98, for a total value of $453,139.28. Following the completion of the sale, the insider directly owned 25,015 shares of the company’s stock, valued at $6,928,654.70. The trade was a 6.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,467 shares of company stock valued at $6,230,860 over the last three months. Company insiders own 4.68% of the company’s stock.

Institutional Investors Weigh In On AppFolio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. Root Financial Partners LLC purchased a new stake in shares of AppFolio during the third quarter worth about $31,000. TD Private Client Wealth LLC raised its position in shares of AppFolio by 2,116.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 133 shares of the software maker’s stock valued at $37,000 after purchasing an additional 127 shares during the last quarter. First Horizon Corp purchased a new stake in AppFolio during the 3rd quarter worth approximately $39,000. Hantz Financial Services Inc. grew its position in AppFolio by 373.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after purchasing an additional 112 shares during the last quarter. Finally, Huntington National Bank increased its stake in AppFolio by 58.7% during the 2nd quarter. Huntington National Bank now owns 200 shares of the software maker’s stock valued at $46,000 after purchasing an additional 74 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

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.