Piper Sandler Companies Reiterates “Overweight” Rating for AppFolio (NASDAQ:APPF)

AppFolio (NASDAQ:APPF)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler Companies in a report issued on Friday, Stock Target Advisor reports. They currently have a $300.00 price objective on the software maker’s stock. Piper Sandler Companies’ price objective points to a potential upside of 29.90% from the company’s current price.

A number of other equities analysts have also recently issued reports on APPF. Piper Sandler restated an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. KeyCorp raised their target price on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods boosted their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Stephens reaffirmed an “overweight” rating and issued a $241.00 price objective on shares of AppFolio in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

AppFolio Stock Down 10.9 %

Shares of APPF stock opened at $230.95 on Friday. The stock has a 50-day simple moving average of $242.53 and a 200 day simple moving average of $231.18. The stock has a market capitalization of $8.36 billion, a P/E ratio of 111.57 and a beta of 0.80. AppFolio has a fifty-two week low of $164.29 and a fifty-two week high of $274.56.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 25th. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. The business had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 29.03%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.53) EPS. On average, sell-side analysts anticipate that AppFolio will post 2.85 earnings per share for the current year.

Insider Activity

In other AppFolio news, major shareholder Maurice J. Duca sold 4,462 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $261.19, for a total value of $1,165,429.78. Following the transaction, the insider now owns 49,784 shares in the company, valued at $13,003,082.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Maurice J. Duca sold 4,462 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $261.19, for a total transaction of $1,165,429.78. Following the transaction, the insider now owns 49,784 shares of the company’s stock, valued at $13,003,082.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Matthew S. Mazza sold 2,131 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $249.46, for a total transaction of $531,599.26. Following the transaction, the insider now owns 43,680 shares in the company, valued at approximately $10,896,412.80. The disclosure for this sale can be found here. Insiders have sold a total of 130,444 shares of company stock worth $31,124,559 in the last ninety days. Corporate insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

Large investors have recently made changes to their positions in the stock. Verdence Capital Advisors LLC grew its holdings in AppFolio by 2.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock valued at $366,000 after purchasing an additional 55 shares during the last quarter. CWM LLC grew its stake in AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after buying an additional 105 shares during the last quarter. GAMMA Investing LLC raised its holdings in AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares during the period. Advisors Asset Management Inc. lifted its position in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Finally, RiverPark Advisors LLC boosted its holdings in AppFolio by 29.8% during the second quarter. RiverPark Advisors LLC now owns 867 shares of the software maker’s stock valued at $212,000 after acquiring an additional 199 shares during the period. Institutional investors own 62.34% of the company’s stock.

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.