AppFolio (NASDAQ:APPF) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS

AppFolio (NASDAQ:APPF) posted its earnings results on Thursday. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16, Briefing.com reports. AppFolio had a net margin of 17.32% and a return on equity of 29.03%. The firm had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. During the same period in the previous year, the company earned ($0.53) earnings per share. The company’s revenue was up 34.2% compared to the same quarter last year. AppFolio updated its FY 2024 guidance to EPS.

AppFolio Price Performance

NASDAQ:APPF opened at $230.95 on Friday. AppFolio has a one year low of $164.29 and a one year high of $274.56. The company has a fifty day moving average price of $242.53 and a 200 day moving average price of $231.18. The stock has a market cap of $8.36 billion, a P/E ratio of 111.57 and a beta of 0.80.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APPF. StockNews.com upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler increased their price objective on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Friday. KeyCorp boosted their target price on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $300.00 price target on shares of AppFolio in a report on Friday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and an average price target of $277.75.

Insiders Place Their Bets

In related news, Director Timothy K. Bliss sold 12,170 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total value of $2,936,742.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Alexander Wolf sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the sale, the director now directly owns 182,584 shares in the company, valued at $45,693,471.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy K. Bliss sold 12,170 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $241.31, for a total value of $2,936,742.70. The disclosure for this sale can be found here. Insiders have sold 130,444 shares of company stock worth $31,124,559 in the last ninety days. Insiders own 9.15% of the company’s stock.

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.