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

AppFolio (NASDAQ:APPF) issued its earnings results on Thursday. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26, Briefing.com reports. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The business had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. During the same period in the prior year, the firm posted $0.26 EPS. AppFolio’s quarterly revenue was up 24.5% compared to the same quarter last year. AppFolio updated its FY 2024 guidance to EPS.

AppFolio Stock Up 11.0 %

APPF stock traded up $21.20 during trading on Friday, hitting $213.27. The company had a trading volume of 548,455 shares, compared to its average volume of 280,007. The firm has a 50-day moving average price of $223.73 and a 200-day moving average price of $231.12. AppFolio has a 12 month low of $164.29 and a 12 month high of $274.56. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 103.60 and a beta of 0.81.

Insider Buying and Selling at AppFolio

In other news, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the sale, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Maurice J. Duca sold 1,296 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $236.77, for a total transaction of $306,853.92. Following the completion of the transaction, the insider now owns 9,383 shares in the company, valued at $2,221,612.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,852 shares of company stock worth $4,100,322. Insiders own 9.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler Companies restated an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a research note on Friday, July 26th. Piper Sandler cut their price target on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. KeyCorp dropped their price objective on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $261.75.

AppFolio Company Profile

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.