Brokerages Set AppFolio, Inc. (NASDAQ:APPF) Price Target at $252.29

Shares of AppFolio, Inc. (NASDAQ:APPF) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $252.2857.

A number of research firms have recently commented on APPF. UBS Group set a $210.00 target price on AppFolio in a research report on Friday, April 24th. Wall Street Zen upgraded AppFolio from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Benchmark lifted their target price on AppFolio from $222.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings upgraded AppFolio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Piper Sandler cut their target price on AppFolio from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th.

AppFolio Stock Performance

APPF stock opened at $161.17 on Tuesday. The firm has a market cap of $5.70 billion, a PE ratio of 38.37 and a beta of 0.82. The firm’s 50 day moving average price is $159.50 and its 200-day moving average price is $193.10. AppFolio has a one year low of $142.73 and a one year high of $326.04.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, April 23rd. The software maker reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.14. The firm had revenue of $262.21 million during the quarter, compared to the consensus estimate of $258.13 million. AppFolio had a net margin of 15.27% and a return on equity of 32.35%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. Equities research analysts predict that AppFolio will post 5.04 EPS for the current fiscal year.

Insider Activity

In other AppFolio news, CEO William Shane Trigg sold 3,584 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $152.50, for a total transaction of $546,560.00. Following the transaction, the chief executive officer directly owned 76,547 shares in the company, valued at approximately $11,673,417.50. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Erin Barat sold 1,978 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $158.12, for a total transaction of $312,761.36. Following the transaction, the insider owned 21,545 shares in the company, valued at $3,406,695.40. The trade was a 8.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On AppFolio

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in AppFolio by 101.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 111 shares of the software maker’s stock worth $26,000 after purchasing an additional 56 shares during the period. Root Financial Partners LLC purchased a new position in AppFolio during the third quarter worth approximately $31,000. Hantz Financial Services Inc. raised its stake in AppFolio by 373.3% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the software maker’s stock worth $39,000 after purchasing an additional 112 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in AppFolio by 48.8% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 192 shares of the software maker’s stock worth $53,000 after purchasing an additional 63 shares during the period. Finally, Advisory Services Network LLC purchased a new position in AppFolio during the third quarter worth approximately $55,000. Hedge funds and other institutional investors own 85.19% of the company’s stock.

About AppFolio

AppFolio, Inc is a Santa Barbara–based provider of cloud-based software solutions for the property management and legal industries. Founded in 2006 by former software executives, the company went public on the NASDAQ under the symbol APPF in 2015. Its original offering, AppFolio Property Manager, automates accounting, marketing, leasing, and maintenance functions for residential, commercial, student housing, and community association managers.

In 2019, AppFolio expanded its portfolio with the acquisition of MyCase, a web-based legal practice management platform for small to mid-size law firms.