Analysts expect AppFolio, Inc. (NASDAQ:APPF) to announce $34.16 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for AppFolio’s earnings. The lowest sales estimate is $34.02 million and the highest is $34.30 million. AppFolio posted sales of $26.20 million in the same quarter last year, which would indicate a positive year over year growth rate of 30.4%. The firm is scheduled to issue its next quarterly earnings results on Monday, August 14th.
On average, analysts expect that AppFolio will report full-year sales of $34.16 million for the current financial year, with estimates ranging from $137.99 million to $139.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $175.02 million per share, with estimates ranging from $173.97 million to $176.10 million. Zacks’ sales averages are an average based on a survey of research firms that cover AppFolio.
AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Friday, May 5th. The software maker reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. AppFolio had a negative net margin of 3.51% and a negative return on equity of 5.77%. The company had revenue of $32.13 million during the quarter, compared to the consensus estimate of $30.20 million.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of AppFolio from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a report on Thursday, May 11th. Pacific Crest reiterated a “hold” rating on shares of AppFolio in a report on Monday, May 8th. William Blair reiterated a “positive” rating on shares of AppFolio in a report on Tuesday, February 28th. Finally, Credit Suisse Group increased their target price on shares of AppFolio from $19.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, February 28th.
AppFolio (NASDAQ APPF) opened at 31.80 on Friday. AppFolio has a 52-week low of $13.34 and a 52-week high of $35.20. The company’s market cap is $1.08 billion. The company has a 50-day moving average of $28.84 and a 200-day moving average of $25.21.
In other news, major shareholder William E. Oberndorf sold 3,250 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $27.00, for a total transaction of $87,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 400,000 shares of the stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $24.80, for a total transaction of $9,920,000.00. Following the sale, the insider now directly owns 6,029 shares of the company’s stock, valued at approximately $149,519.20. The disclosure for this sale can be found here. Insiders have sold 1,043,250 shares of company stock valued at $27,647,750 in the last three months. 44.77% of the stock is owned by insiders.
Several large investors have recently modified their holdings of APPF. Blair William & Co. IL increased its stake in shares of AppFolio by 3.6% in the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock valued at $2,710,000 after buying an additional 3,775 shares in the last quarter. State Street Corp increased its stake in shares of AppFolio by 14.4% in the fourth quarter. State Street Corp now owns 96,083 shares of the software maker’s stock valued at $2,293,000 after buying an additional 12,096 shares in the last quarter. Spark Investment Management LLC acquired a new position in AppFolio during the first quarter worth $388,000. Strs Ohio acquired a new position in AppFolio during the first quarter worth $359,000. Finally, Dragoneer Investment Group LLC increased its position in AppFolio by 3.2% in the first quarter. Dragoneer Investment Group LLC now owns 2,124,003 shares of the software maker’s stock worth $57,773,000 after buying an additional 66,659 shares during the period. 16.61% of the stock is owned by institutional investors.
AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.
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