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

AppFolio (NASDAQ:APPF) issued its earnings results on Thursday. The software maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26, Briefing.com reports. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter last year, the company earned $0.26 EPS. The firm’s 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 %

AppFolio stock traded up $20.27 during trading hours on Friday, hitting $212.34. 894,052 shares of the stock traded hands, compared to its average volume of 281,676. AppFolio has a one year low of $164.29 and a one year high of $274.56. The company has a market cap of $7.69 billion, a PE ratio of 103.60 and a beta of 0.81. The firm’s 50-day moving average price is $223.73 and its two-hundred day moving average price is $231.12.

Insider Transactions at AppFolio

In related news, CEO William Shane Trigg sold 3,501 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the sale, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at $17,890,447.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Matthew S. Mazza sold 2,371 shares of AppFolio stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $221.22, for a total value of $524,512.62. Following the completion of the transaction, the insider now owns 39,980 shares of the company’s stock, valued at $8,844,375.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the sale, the chief executive officer now directly owns 81,699 shares in the company, valued at $17,890,447.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,852 shares of company stock valued at $4,100,322. Corporate insiders own 9.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on APPF shares. JPMorgan Chase & Co. increased their target price on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. DA Davidson raised their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Finally, Piper Sandler cut their target price on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a research note on Friday. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

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.