AppFolio (NASDAQ:APPF) Stock Rating Upgraded by Zacks Investment Research

AppFolio (NASDAQ:APPF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “AppFolio, Inc. offers cloud-based software solutions for property management and legal industries. It offers AppFolio Property Manager, a solution for the property managers including activities of posting and tracking tenant vacancies, handling the entire leasing process electronically, administering maintenance and repairs with their vendor networks, managing accounting and reporting to property owners. MyCase solution for practitioners and small law firms, providing time tracking, billing and payments, client communication, coordination with other lawyers and support staff, legal document management and assembly and general office administration services. Value+ services include Websites and electronic payment services. AppFolio, Inc. is headquartered Goleta, California. “

Other equities analysts also recently issued reports about the company. William Blair reaffirmed an “outperform” rating on shares of AppFolio in a research report on Friday, May 3rd. BidaskClub downgraded AppFolio from a “buy” rating to a “hold” rating in a research report on Saturday, June 22nd. Morgan Stanley lifted their target price on AppFolio from $61.00 to $82.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. DA Davidson lifted their target price on AppFolio to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, ValuEngine raised AppFolio from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $87.67.

Shares of NASDAQ:APPF opened at $103.18 on Wednesday. The business’s 50-day simple moving average is $99.69. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.71. The firm has a market cap of $3.51 billion, a P/E ratio of 184.25 and a beta of 1.20. AppFolio has a 12-month low of $51.15 and a 12-month high of $109.89.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, May 2nd. The software maker reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $57.10 million for the quarter, compared to analyst estimates of $56.77 million. AppFolio had a return on equity of 19.56% and a net margin of 9.46%. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 earnings per share. On average, sell-side analysts expect that AppFolio will post 0.55 EPS for the current year.

In other AppFolio news, Director Timothy K. Bliss sold 15,000 shares of AppFolio stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $95.97, for a total value of $1,439,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ida Kathleen Kane sold 2,500 shares of AppFolio stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $250,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,000 shares of company stock valued at $4,253,475. 42.46% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in AppFolio by 482.0% in the third quarter. JPMorgan Chase & Co. now owns 17,442 shares of the software maker’s stock valued at $1,367,000 after acquiring an additional 14,445 shares during the last quarter. Rhumbline Advisers boosted its stake in AppFolio by 52.2% in the fourth quarter. Rhumbline Advisers now owns 20,519 shares of the software maker’s stock valued at $1,215,000 after acquiring an additional 7,040 shares during the last quarter. Victory Capital Management Inc. boosted its stake in AppFolio by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 4,112 shares of the software maker’s stock valued at $244,000 after acquiring an additional 162 shares during the last quarter. First Trust Advisors LP purchased a new position in AppFolio in the fourth quarter valued at about $3,644,000. Finally, California Public Employees Retirement System boosted its stake in AppFolio by 9.5% in the fourth quarter. California Public Employees Retirement System now owns 17,345 shares of the software maker’s stock valued at $1,027,000 after acquiring an additional 1,508 shares during the last quarter. 31.20% of the stock is owned by institutional investors.

About AppFolio

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

Featured Article: What is Call Option Volume?

Get a free copy of the Zacks research report on AppFolio (APPF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for AppFolio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppFolio and related companies with MarketBeat.com's FREE daily email newsletter.