DA Davidson Has Positive Outlook of AppFolio FY2024 Earnings

AppFolio, Inc. (NASDAQ:APPF) – Research analysts at DA Davidson increased their FY2024 EPS estimates for AppFolio in a note issued to investors on Wednesday, January 22nd. DA Davidson analyst G. Luria now anticipates that the software maker will earn $3.26 per share for the year, up from their prior forecast of $3.25. The consensus estimate for AppFolio’s current full-year earnings is $3.20 per share. DA Davidson also issued estimates for AppFolio’s Q4 2024 earnings at $0.68 EPS.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same period in the prior year, the firm earned $0.26 earnings per share. AppFolio’s revenue was up 24.5% on a year-over-year basis.

A number of other equities analysts also recently weighed in on the stock. Piper Sandler downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 target price for the company. in a research note on Monday, January 6th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price for the company. in a research note 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $268.57.

AppFolio Stock Performance

Shares of NASDAQ APPF opened at $260.64 on Thursday. AppFolio has a fifty-two week low of $172.98 and a fifty-two week high of $274.56. The company has a 50 day simple moving average of $251.73 and a two-hundred day simple moving average of $235.97. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 72.60 and a beta of 0.87.

Institutional Investors Weigh In On AppFolio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in AppFolio by 65.5% in the fourth quarter. KBC Group NV now owns 1,023 shares of the software maker’s stock worth $252,000 after purchasing an additional 405 shares during the last quarter. Blue Trust Inc. boosted its holdings in AppFolio by 126.5% in the fourth quarter. Blue Trust Inc. now owns 265 shares of the software maker’s stock worth $62,000 after purchasing an additional 148 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of AppFolio by 21.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 1,293 shares of the software maker’s stock worth $319,000 after acquiring an additional 228 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of AppFolio by 6.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 642 shares of the software maker’s stock worth $158,000 after acquiring an additional 40 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of AppFolio by 385.7% during the 4th quarter. SG Americas Securities LLC now owns 7,145 shares of the software maker’s stock worth $1,763,000 after acquiring an additional 5,674 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Insider Activity at AppFolio

In related news, insider Matthew S. Mazza sold 5,090 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the sale, the insider now owns 28,266 shares in the company, valued at approximately $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scanlan Agnes Bundy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the sale, the director now owns 5,416 shares in the company, valued at $1,383,354.72. This represents a 8.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,768 shares of company stock valued at $5,744,891 over the last 90 days. Corporate insiders own 5.24% 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.