Piper Sandler Lowers AppFolio (NASDAQ:APPF) Price Target to $265.00

AppFolio (NASDAQ:APPF) had its price objective cut by analysts at Piper Sandler from $300.00 to $265.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Piper Sandler’s target price would indicate a potential upside of 24.80% from the company’s previous close.

A number of other research firms have also commented on APPF. StockNews.com lowered AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. DA Davidson upped their price objective on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and an average target price of $261.75.

AppFolio Stock Performance

Shares of AppFolio stock opened at $212.34 on Friday. The firm has a 50-day moving average of $223.58 and a 200-day moving average of $230.96. AppFolio has a 52-week low of $164.29 and a 52-week high of $274.56. The stock has a market cap of $7.69 billion, a PE ratio of 102.58 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities research analysts predict that AppFolio will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at AppFolio

In other news, major shareholder Maurice J. Duca sold 200 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $232.52, for a total transaction of $46,504.00. Following the completion of the transaction, the insider now directly owns 27,568 shares in the company, valued at approximately $6,410,111.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Maurice J. Duca sold 200 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the sale, the insider now directly owns 27,568 shares in the company, valued at approximately $6,410,111.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Maurice J. Duca sold 2,968 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $234.87, for a total transaction of $697,094.16. Following the completion of the transaction, the insider now owns 24,500 shares of the company’s stock, valued at approximately $5,754,315. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,852 shares of company stock worth $4,100,322 over the last quarter. Corporate insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

Several institutional investors have recently modified their holdings of APPF. Brighton Jones LLC raised its position in AppFolio by 0.9% during the 2nd quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock worth $1,420,000 after purchasing an additional 49 shares during the last quarter. Blue Trust Inc. raised its position in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of AppFolio by 2.9% in the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock worth $888,000 after acquiring an additional 102 shares during the period. CWM LLC boosted its holdings in AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares during the period. Institutional investors own 62.34% of the company’s stock.

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.