AppFolio (NASDAQ:APPF) Announces Quarterly Earnings Results

AppFolio (NASDAQ:APPF) posted its earnings results on Thursday. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16, Briefing.com reports. The firm had revenue of $197.38 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.53) earnings per share. AppFolio updated its FY 2024 guidance to EPS.

AppFolio Stock Performance

NASDAQ:APPF opened at $230.95 on Friday. AppFolio has a 52 week low of $164.29 and a 52 week high of $274.56. The firm’s fifty day moving average is $242.53 and its 200-day moving average is $231.18. The firm has a market cap of $8.36 billion, a P/E ratio of 111.57 and a beta of 0.80.

Wall Street Analyst Weigh In

APPF has been the topic of a number of research analyst reports. DA Davidson raised their target price on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. increased their target price on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Stephens restated an “overweight” rating and set a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. Finally, Piper Sandler upped their price objective on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, AppFolio has an average rating of “Moderate Buy” and an average target price of $277.75.

Insider Transactions at AppFolio

In other AppFolio news, Director Timothy K. Bliss sold 41,730 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $232.32, for a total transaction of $9,694,713.60. Following the sale, the director now owns 58,270 shares of the company’s stock, valued at $13,537,286.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Maurice J. Duca sold 876 shares of AppFolio stock in a transaction on Monday, July 8th. The shares were sold at an average price of $252.82, for a total value of $221,470.32. Following the completion of the sale, the insider now owns 7,100 shares in the company, valued at approximately $1,795,022. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy K. Bliss sold 41,730 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $232.32, for a total transaction of $9,694,713.60. Following the transaction, the director now directly owns 58,270 shares in the company, valued at $13,537,286.40. The disclosure for this sale can be found here. Insiders sold a total of 130,444 shares of company stock worth $31,124,559 over the last three months. 9.15% of the stock is owned by company insiders.

About AppFolio

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.