AppFolio (NASDAQ:APPF) Releases Earnings Results, Beats Expectations By $0.26 EPS

AppFolio (NASDAQ:APPF) posted its quarterly earnings data on Thursday. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26, Briefing.com reports. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. AppFolio updated its FY 2024 guidance to EPS.

AppFolio Trading Up 10.6 %

Shares of APPF stock opened at $212.34 on Friday. The company has a market cap of $7.69 billion, a P/E ratio of 102.58 and a beta of 0.81. The firm has a fifty day moving average price of $223.58 and a 200 day moving average price of $230.96. AppFolio has a 12 month low of $164.29 and a 12 month high of $274.56.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares in the company, valued at approximately $17,890,447.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 200 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $232.52, for a total value of $46,504.00. Following the completion of the sale, the insider now owns 27,568 shares of the company’s stock, valued at approximately $6,410,111.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,852 shares of company stock worth $4,100,322 over the last ninety days. Corporate insiders own 9.15% of the company’s stock.

Wall Street Analysts Forecast Growth

APPF has been the subject of several research reports. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp dropped their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, DA Davidson upped their price objective on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and an average target price of $261.75.

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.