Zacks Investment Research cut shares of AppFolio (NASDAQ:APPF) from a strong-buy rating to a hold rating in a report published on Monday.
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. “
Other research analysts also recently issued research reports about the company. Morgan Stanley upped their target price on AppFolio from $38.00 to $46.00 and gave the stock an equal weight rating in a report on Tuesday, November 14th. KeyCorp reiterated a hold rating on shares of AppFolio in a report on Monday, November 6th. Finally, BidaskClub downgraded AppFolio from a sell rating to a strong sell rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $43.00.
AppFolio (NASDAQ:APPF) traded up $1.60 on Monday, reaching $42.55. The company’s stock had a trading volume of 84,100 shares, compared to its average volume of 123,089. The company has a market cap of $1,440.00 and a price-to-earnings ratio of 250.29. AppFolio has a fifty-two week low of $21.85 and a fifty-two week high of $52.25.
AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Monday, November 6th. The software maker reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $37.90 million during the quarter, compared to analyst estimates of $36.16 million. AppFolio had a return on equity of 7.91% and a net margin of 4.37%. The business’s revenue was up 34.6% compared to the same quarter last year. research analysts expect that AppFolio will post 0.25 EPS for the current year.
In related news, Director Janet Kerr sold 1,576 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $43.08, for a total value of $67,894.08. Following the sale, the director now owns 17,189 shares in the company, valued at approximately $740,502.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Walker sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $44.58, for a total value of $1,337,400.00. Following the completion of the sale, the insider now owns 1,554,025 shares in the company, valued at approximately $69,278,434.50. The disclosure for this sale can be found here. 44.77% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of APPF. Russell Investments Group Ltd. purchased a new stake in shares of AppFolio in the 2nd quarter worth approximately $178,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of AppFolio in the 2nd quarter worth approximately $476,000. Rhumbline Advisers purchased a new stake in shares of AppFolio in the 2nd quarter worth approximately $300,000. Bank of New York Mellon Corp grew its stake in shares of AppFolio by 15.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,461 shares of the software maker’s stock worth $1,058,000 after buying an additional 4,367 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of AppFolio by 198.7% in the 2nd quarter. Wells Fargo & Company MN now owns 18,724 shares of the software maker’s stock worth $610,000 after buying an additional 12,456 shares during the last quarter. Institutional investors own 24.85% of the company’s stock.
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AppFolio Company Profile
AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.
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