Brokerages Set AppFolio, Inc. (NASDAQ:APPF) Target Price at $277.75

Shares of AppFolio, Inc. (NASDAQ:APPF) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $277.75.

A number of research firms have recently issued reports on APPF. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. KeyCorp boosted their target price on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler boosted their target price on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson boosted their target price on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, StockNews.com raised AppFolio from a “hold” rating to a “buy” rating in a report on Friday, July 26th.

Insider Activity at AppFolio

In related news, Director Timothy K. Bliss sold 41,730 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $232.32, for a total transaction of $9,694,713.60. Following the sale, the director now directly owns 58,270 shares in the company, valued at approximately $13,537,286.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Timothy K. Bliss sold 41,730 shares of AppFolio stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $232.32, for a total value of $9,694,713.60. Following the completion of the transaction, the director now owns 58,270 shares in the company, valued at approximately $13,537,286.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy K. Bliss sold 15,000 shares of AppFolio stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $231.20, for a total value of $3,468,000.00. Following the completion of the transaction, the director now owns 38,270 shares of the company’s stock, valued at approximately $8,848,024. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,612 shares of company stock worth $30,661,611. 9.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in AppFolio by 497.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock valued at $7,545,000 after purchasing an additional 36,265 shares during the period. American International Group Inc. boosted its position in AppFolio by 280.7% during the 1st quarter. American International Group Inc. now owns 36,367 shares of the software maker’s stock valued at $8,973,000 after purchasing an additional 26,815 shares during the period. Texas Permanent School Fund Corp acquired a new position in AppFolio during the 1st quarter valued at approximately $4,415,000. Oberndorf William E acquired a new position in AppFolio during the 4th quarter valued at approximately $3,020,000. Finally, Nebula Research & Development LLC boosted its position in AppFolio by 554.5% during the 4th quarter. Nebula Research & Development LLC now owns 9,039 shares of the software maker’s stock valued at $1,566,000 after purchasing an additional 7,658 shares during the period. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Price Performance

Shares of AppFolio stock opened at $220.28 on Wednesday. The business has a 50-day moving average of $237.16 and a 200 day moving average of $234.16. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 106.42 and a beta of 0.81. AppFolio has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.16. The firm had revenue of $197.38 million during the quarter, compared to analysts’ expectations of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.53) earnings per share. Equities research analysts anticipate that AppFolio will post 2.99 earnings per share for the current year.

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.