AppFolio (NASDAQ:APPF) Cut to Hold at BidaskClub

BidaskClub downgraded shares of AppFolio (NASDAQ:APPF) from a buy rating to a hold rating in a research note published on Thursday, BidAskClub reports.

APPF has been the topic of several other research reports. DA Davidson cut AppFolio from a neutral rating to an underperform rating in a research note on Tuesday, July 30th. Zacks Investment Research cut AppFolio from a buy rating to a hold rating in a research report on Monday, August 12th. ValuEngine cut AppFolio from a strong-buy rating to a buy rating in a research report on Wednesday, July 31st. Finally, KeyCorp initiated coverage on AppFolio in a research report on Tuesday, July 16th. They set a sector weight rating and a $106.10 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. AppFolio has an average rating of Hold and an average target price of $94.28.

Shares of NASDAQ:APPF opened at $97.35 on Thursday. AppFolio has a 52-week low of $51.15 and a 52-week high of $109.89. The stock has a market cap of $3.39 billion, a P/E ratio of 173.84 and a beta of 1.19. The business’s 50 day moving average is $98.07 and its 200 day moving average is $92.79. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.56.



AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Monday, July 29th. The software maker reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.54. AppFolio had a return on equity of 33.91% and a net margin of 15.85%. The company had revenue of $63.60 million for the quarter, compared to analysts’ expectations of $63.71 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. AppFolio’s revenue was up 34.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AppFolio will post 0.88 EPS for the current fiscal year.

In other AppFolio news, Director Janet Kerr sold 500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $96.31, for a total transaction of $48,155.00. Following the sale, the director now owns 19,324 shares of the company’s stock, valued at approximately $1,861,094.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Rauth III sold 9,701 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $105.10, for a total value of $1,019,575.10. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $2,102,000. The disclosure for this sale can be found here. 42.46% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of AppFolio by 12.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,950 shares of the software maker’s stock valued at $200,000 after purchasing an additional 212 shares during the last quarter. Strs Ohio lifted its holdings in shares of AppFolio by 7.8% during the 2nd quarter. Strs Ohio now owns 6,900 shares of the software maker’s stock valued at $705,000 after purchasing an additional 500 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of AppFolio during the 2nd quarter valued at $69,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of AppFolio during the 2nd quarter valued at $72,000. Finally, Brown Advisory Inc. lifted its holdings in shares of AppFolio by 0.4% during the 2nd quarter. Brown Advisory Inc. now owns 186,248 shares of the software maker’s stock valued at $19,048,000 after purchasing an additional 758 shares during the last quarter. Hedge funds and other institutional investors own 33.06% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

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