Analysts Set AppFolio, Inc. (NASDAQ:APPF) Price Target at $261.75

Shares of AppFolio, Inc. (NASDAQ:APPF) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $261.75.

A number of equities analysts have recently commented on APPF shares. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. KeyCorp cut their target price on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Piper Sandler decreased their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered 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.

AppFolio Stock Performance

Shares of APPF opened at $254.82 on Friday. AppFolio has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The business has a 50-day moving average of $224.38 and a 200 day moving average of $231.08. The firm has a market cap of $9.26 billion, a P/E ratio of 70.98 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. As a group, research analysts predict that AppFolio will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction on 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 sale, the insider now directly owns 18,922 shares of the company’s stock, valued at approximately $4,393,309.96. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the completion of the transaction, the insider now owns 33,819 shares of the company’s stock, valued at $7,745,903.76. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,461 shares of company stock worth $5,766,272 over the last three months. 5.24% of the stock is owned by insiders.

Institutional Trading of AppFolio

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of AppFolio by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after acquiring an additional 73,965 shares during the last quarter. State Street Corp raised its position in AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after purchasing an additional 49,238 shares during the period. Geode Capital Management LLC lifted its stake in AppFolio by 8.6% in the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker’s stock worth $97,252,000 after purchasing an additional 32,743 shares during the last quarter. DF Dent & Co. Inc. boosted its position in AppFolio by 10.1% during the third quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker’s stock valued at $82,788,000 after buying an additional 32,181 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of AppFolio by 13.5% during the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock valued at $59,137,000 after buying an additional 28,673 shares during the last quarter. Institutional investors own 62.34% 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.