AppFolio, Inc. (NASDAQ:APPF) Expected to Announce Quarterly Sales of $93.43 Million

Equities analysts forecast that AppFolio, Inc. (NASDAQ:APPF) will post $93.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for AppFolio’s earnings, with estimates ranging from $92.20 million to $94.66 million. AppFolio posted sales of $84.09 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The company is expected to report its next quarterly earnings report on Monday, November 8th.

According to Zacks, analysts expect that AppFolio will report full year sales of $352.87 million for the current year, with estimates ranging from $352.70 million to $353.04 million. For the next fiscal year, analysts anticipate that the business will post sales of $421.87 million, with estimates ranging from $419.60 million to $424.15 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for AppFolio.

AppFolio (NASDAQ:APPF) last posted its earnings results on Sunday, August 8th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). The firm had revenue of $89.04 million for the quarter, compared to analysts’ expectations of $89.43 million. AppFolio had a net margin of 43.04% and a return on equity of 48.85%.

In related news, Director Janet Kerr sold 350 shares of the company’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $124.63, for a total transaction of $43,620.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jonathan Walker sold 801 shares of the firm’s stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $122.71, for a total transaction of $98,290.71. The disclosure for this sale can be found here. Insiders have sold 9,151 shares of company stock valued at $1,115,911 in the last quarter. 36.02% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its holdings in shares of AppFolio by 23.2% during the second quarter. Parametric Portfolio Associates LLC now owns 14,012 shares of the software maker’s stock worth $1,978,000 after purchasing an additional 2,641 shares during the period. Marshall Wace LLP increased its holdings in shares of AppFolio by 177.8% in the 2nd quarter. Marshall Wace LLP now owns 18,041 shares of the software maker’s stock valued at $2,547,000 after acquiring an additional 11,547 shares during the last quarter. Jefferies Group LLC bought a new position in AppFolio during the 2nd quarter worth $4,126,000. Capital Impact Advisors LLC lifted its holdings in shares of AppFolio by 93.2% in the second quarter. Capital Impact Advisors LLC now owns 18,658 shares of the software maker’s stock valued at $2,635,000 after buying an additional 9,000 shares during the period. Finally, Invesco Ltd. raised its position in shares of AppFolio by 42.6% during the second quarter. Invesco Ltd. now owns 6,572 shares of the software maker’s stock worth $928,000 after purchasing an additional 1,964 shares during the period. 46.50% of the stock is currently owned by hedge funds and other institutional investors.

AppFolio stock traded down $4.69 during midday trading on Friday, hitting $118.30. 51,876 shares of the company were exchanged, compared to its average volume of 141,320. AppFolio has a fifty-two week low of $110.22 and a fifty-two week high of $186.59. The company has a market cap of $4.09 billion, a PE ratio of 30.31 and a beta of 1.07. The company’s fifty day moving average price is $128.89 and its 200-day moving average price is $135.20.

About AppFolio

AppFolio, Inc engages in the provision of cloud-based software solutions. The firm caters to small and medium-sized businesses in the property management and legal industries. It offers the following solutions: AppFolio Property Manager, Tenant Screening Services, Maintenance Contact Center, Premium Leads, Tenant Debt Collections and MyCase.

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Earnings History and Estimates for AppFolio (NASDAQ:APPF)

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