AppFolio (APPF) Projected to Post Earnings on Thursday

AppFolio (NASDAQ:APPF) is projected to release its earnings data before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.94 per share and revenue of $199,860.00 billion for the quarter. AppFolio has set its FY 2024 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.26. The company had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, analysts expect AppFolio to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AppFolio Price Performance

AppFolio stock opened at $260.39 on Wednesday. The firm has a market cap of $9.46 billion, a P/E ratio of 72.53 and a beta of 0.87. The stock’s 50 day moving average is $250.72 and its 200 day moving average is $235.64. AppFolio has a one year low of $172.98 and a one year high of $274.56.

Insiders Place Their Bets

In other news, CEO William Shane Trigg sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $229.85, for a total transaction of $804,475.00. Following the transaction, the chief executive officer now directly owns 74,327 shares of the company’s stock, valued at $17,084,060.95. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew S. Mazza sold 700 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $255.50, for a total value of $178,850.00. Following the completion of the transaction, the insider now owns 27,566 shares in the company, valued at approximately $7,043,113. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,768 shares of company stock worth $5,744,891. 5.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APPF. Keefe, Bruyette & Woods lowered shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Piper Sandler cut shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price target on the stock. in a research report on Monday, January 6th. Finally, KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price objective for the company. in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, AppFolio has an average rating of “Hold” and an average target price of $268.57.

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.