Shares of AppFolio Inc (NASDAQ:APPF) have received a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $70.50.
APPF has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of AppFolio from an “equal weight” rating to an “underweight” rating in a research note on Friday, June 1st. BidaskClub downgraded shares of AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. TheStreet raised shares of AppFolio from a “c” rating to a “b-” rating in a research note on Monday, June 25th. Finally, Zacks Investment Research downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd.
APPF stock opened at $82.75 on Tuesday. The firm has a market cap of $2.87 billion, a PE ratio of 295.54 and a beta of 0.87. AppFolio has a 52-week low of $37.56 and a 52-week high of $91.49.
AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Monday, July 30th. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The firm had revenue of $47.24 million during the quarter, compared to the consensus estimate of $45.55 million. AppFolio had a net margin of 10.92% and a return on equity of 20.10%. The business’s revenue was up 31.7% compared to the same quarter last year. sell-side analysts forecast that AppFolio will post 0.69 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning bought a new position in AppFolio during the second quarter worth $255,000. Campbell & CO Investment Adviser LLC bought a new position in AppFolio during the second quarter worth $294,000. Metropolitan Life Insurance Co. NY raised its stake in AppFolio by 60.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 4,857 shares of the software maker’s stock worth $297,000 after buying an additional 1,831 shares during the last quarter. Voya Investment Management LLC bought a new position in AppFolio during the second quarter worth $315,000. Finally, Victory Capital Management Inc. bought a new position in AppFolio during the first quarter worth $228,000. 29.95% of the stock is owned by institutional investors and hedge funds.
AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.
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