AppFolio (APPF) – Analysts’ Recent Ratings Updates

AppFolio (NASDAQ: APPF) has recently received a number of price target changes and ratings updates:

  • 7/31/2019 – AppFolio was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 7/30/2019 – AppFolio was downgraded by analysts at DA Davidson from a “neutral” rating to an “underperform” rating.
  • 7/30/2019 – AppFolio was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $116.00 price target on the stock. 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. “
  • 7/16/2019 – AppFolio is now covered by analysts at KeyCorp. They set a “sector weight” rating and a $106.10 price target on the stock.
  • 7/3/2019 – AppFolio was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 7/2/2019 – AppFolio was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 6/22/2019 – AppFolio was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/14/2019 – AppFolio was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

APPF traded down $0.61 on Friday, hitting $98.58. 7,860 shares of the company were exchanged, compared to its average volume of 181,559. AppFolio Inc has a twelve month low of $51.15 and a twelve month high of $109.89. The stock has a market capitalization of $3.31 billion, a P/E ratio of 176.04 and a beta of 1.20. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $103.75.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Monday, July 29th. The software maker reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.54. The company had revenue of $63.60 million during the quarter, compared to analyst estimates of $63.71 million. AppFolio had a net margin of 15.85% and a return on equity of 33.91%. AppFolio’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. Research analysts forecast that AppFolio Inc will post 0.48 earnings per share for the current fiscal year.

In other news, Director Timothy K. Bliss sold 15,000 shares of AppFolio stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $95.97, for a total transaction of $1,439,550.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William R. Rauth III sold 20,000 shares of AppFolio stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $96.11, for a total value of $1,922,200.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,922,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,701 shares of company stock worth $4,864,550. Insiders own 42.46% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPF. Aperio Group LLC acquired a new stake in shares of AppFolio in the 2nd quarter valued at $69,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in AppFolio in the 2nd quarter worth $72,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in shares of AppFolio during the 1st quarter worth about $93,000. NEXT Financial Group Inc bought a new position in shares of AppFolio during the 2nd quarter worth about $166,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in AppFolio in the first quarter valued at about $147,000. 31.17% of the stock is currently owned by institutional investors.

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.

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