AppFolio (NASDAQ:APPF) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of AppFolio (NASDAQ:APPF) from a hold rating to a buy rating in a report published on Friday.

Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of AppFolio in a report on Thursday, August 17th. They issued an overweight rating and a $200.00 price target on the stock. Stephens raised shares of AppFolio from an equal weight rating to an overweight rating and increased their price target for the stock from $184.00 to $212.00 in a research report on Monday, August 21st. William Blair raised shares of AppFolio from a market perform rating to an outperform rating in a report on Monday, August 28th. KeyCorp boosted their target price on AppFolio from $210.00 to $223.00 and gave the stock an overweight rating in a report on Friday, October 27th. Finally, DA Davidson lifted their price objective on shares of AppFolio from $230.00 to $240.00 and gave the stock a buy rating in a research note on Friday, October 27th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AppFolio has an average rating of Buy and an average target price of $218.75.

AppFolio Trading Down 0.3 %

Shares of NASDAQ APPF opened at $200.05 on Friday. The stock has a market cap of $7.15 billion, a P/E ratio of -147.10 and a beta of 0.85. The business’s fifty day simple moving average is $187.28 and its 200-day simple moving average is $175.93. AppFolio has a 12-month low of $100.20 and a 12-month high of $211.41.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. The company had revenue of $165.44 million for the quarter, compared to analyst estimates of $156.46 million. AppFolio had a negative return on equity of 25.82% and a negative net margin of 8.25%. On average, equities analysts forecast that AppFolio will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently made changes to their positions in APPF. Arcadia Investment Management Corp MI grew its stake in AppFolio by 70.4% in the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after acquiring an additional 57 shares during the period. Altshuler Shaham Ltd acquired a new stake in AppFolio in the 1st quarter valued at $30,000. Lazard Asset Management LLC acquired a new stake in AppFolio in the 3rd quarter valued at $30,000. First Horizon Advisors Inc. increased its position in shares of AppFolio by 2,922.2% during the first quarter. First Horizon Advisors Inc. now owns 272 shares of the software maker’s stock worth $34,000 after acquiring an additional 263 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of AppFolio in the first quarter worth approximately $39,000. 48.96% of the stock is currently owned by institutional investors.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.