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

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

AppFolio Price Performance

Shares of AppFolio stock traded up $20.27 on Friday, hitting $212.34. The company had a trading volume of 894,190 shares, compared to its average volume of 281,676. AppFolio has a twelve month low of $164.29 and a twelve month high of $274.56. The stock has a 50-day moving average of $223.58 and a 200-day moving average of $230.96. The firm has a market capitalization of $7.69 billion, a P/E ratio of 102.58 and a beta of 0.81.

Insider Activity at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the transaction, the chief executive officer now owns 81,699 shares in the company, valued at approximately $17,890,447.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Matthew S. Mazza sold 2,371 shares of the 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 completion of the transaction, the insider now owns 39,980 shares in the company, valued at approximately $8,844,375.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at approximately $17,890,447.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,852 shares of company stock valued at $4,100,322. 9.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price target on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. DA Davidson increased their target price on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, KeyCorp decreased their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $261.75.

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.