Keefe, Bruyette & Woods Upgrades AppFolio (NASDAQ:APPF) to Outperform

AppFolio (NASDAQ:APPF) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Marketbeat reports. The firm currently has a $311.00 price target on the software maker’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 28.15% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler upgraded shares of AppFolio from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $240.00 to $350.00 in a report on Friday, August 1st. KeyCorp upgraded shares of AppFolio from a “sector weight” rating to an “overweight” rating and set a $285.00 price objective for the company in a report on Friday, October 17th. DA Davidson restated a “buy” rating and issued a $350.00 price objective on shares of AppFolio in a report on Friday, August 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of AppFolio in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, AppFolio has a consensus rating of “Buy” and an average price target of $318.20.

AppFolio Price Performance

Shares of APPF opened at $242.68 on Friday. AppFolio has a 1-year low of $190.24 and a 1-year high of $326.04. The stock has a market cap of $8.70 billion, a PE ratio of 43.81 and a beta of 0.83. The firm has a 50-day simple moving average of $262.96 and a two-hundred day simple moving average of $244.13.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, July 31st. The software maker reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. The firm had revenue of $235.58 million during the quarter, compared to analysts’ expectations of $230.10 million. AppFolio had a net margin of 23.54% and a return on equity of 26.32%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. AppFolio has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that AppFolio will post 3.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Shane Trigg sold 4,000 shares of AppFolio stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total value of $1,107,800.00. Following the completion of the transaction, the chief executive officer owned 59,556 shares in the company, valued at $16,494,034.20. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Klaus Schauser sold 3,000 shares of AppFolio stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $295.14, for a total transaction of $885,420.00. Following the completion of the transaction, the insider owned 300,000 shares of the company’s stock, valued at $88,542,000. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,803 shares of company stock worth $16,938,949 over the last 90 days. 4.68% of the stock is owned by insiders.

Institutional Trading of AppFolio

Institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System lifted its position in shares of AppFolio by 80.8% during the 1st quarter. New York State Teachers Retirement System now owns 8,773 shares of the software maker’s stock worth $1,929,000 after buying an additional 3,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of AppFolio during the 1st quarter worth approximately $420,000. Janney Montgomery Scott LLC purchased a new stake in shares of AppFolio during the 1st quarter worth approximately $305,000. Oppenheimer Asset Management Inc. lifted its position in shares of AppFolio by 34.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,049 shares of the software maker’s stock worth $1,110,000 after buying an additional 1,304 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of AppFolio by 0.8% during the 1st quarter. Northern Trust Corp now owns 193,780 shares of the software maker’s stock worth $42,612,000 after buying an additional 1,493 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

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.