A number of other brokerages have also recently weighed in on APPF. William Blair upgraded AppFolio from a market perform rating to an outperform rating in a research report on Monday, August 28th. DA Davidson lifted their price objective on AppFolio from $230.00 to $240.00 and gave the stock a buy rating in a research report on Friday, October 27th. KeyCorp raised their price target on shares of AppFolio from $210.00 to $223.00 and gave the stock an overweight rating in a research note on Friday, October 27th. Stephens raised shares of AppFolio from an equal weight rating to an overweight rating and boosted their price objective for the company from $184.00 to $212.00 in a research report on Monday, August 21st. Finally, JPMorgan Chase & Co. began coverage on shares of AppFolio in a research report on Thursday, August 17th. They set an overweight rating and a $200.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of $218.75.
AppFolio Price Performance
AppFolio (NASDAQ:APPF – Get Free Report) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.08 by $0.18. AppFolio had a negative return on equity of 25.82% and a negative net margin of 8.25%. The business had revenue of $165.44 million for the quarter, compared to analyst estimates of $156.46 million. Analysts anticipate that AppFolio will post 0.09 earnings per share for the current fiscal year.
Institutional Trading of AppFolio
Several large investors have recently modified their holdings of APPF. Fred Alger Management LLC boosted its holdings in AppFolio by 623.8% in the fourth quarter. Fred Alger Management LLC now owns 497,164 shares of the software maker’s stock valued at $52,391,000 after purchasing an additional 428,479 shares during the last quarter. GW&K Investment Management LLC bought a new stake in shares of AppFolio in the first quarter worth $40,559,000. DF Dent & Co. Inc. raised its holdings in AppFolio by 138.7% in the first quarter. DF Dent & Co. Inc. now owns 379,806 shares of the software maker’s stock valued at $47,278,000 after acquiring an additional 220,680 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in AppFolio during the 3rd quarter valued at $33,062,000. Finally, Norges Bank acquired a new position in AppFolio during the 4th quarter worth $17,253,000. 48.96% of the stock is currently owned by institutional investors and hedge funds.
AppFolio Company Profile
AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.
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