AppFolio (NASDAQ:APPF) Posts Quarterly Earnings Results, Beats Estimates By $0.26 EPS

AppFolio (NASDAQ:APPF) released its quarterly earnings data on Thursday. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.26, Briefing.com reports. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue was up 24.5% on a year-over-year basis. AppFolio updated its FY 2024 guidance to EPS.

AppFolio Trading Up 10.6 %

Shares of NASDAQ:APPF traded up $20.27 during midday trading on Friday, reaching $212.34. The company had a trading volume of 894,052 shares, compared to its average volume of 281,676. The stock has a market cap of $7.69 billion, a P/E ratio of 103.60 and a beta of 0.81. The company’s 50 day moving average price is $223.73 and its 200 day moving average price is $231.12. AppFolio has a 52-week low of $164.29 and a 52-week high of $274.56.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler decreased their price objective on AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday. Piper Sandler Companies reissued an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. DA Davidson increased their price objective on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.75.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $218.98, for a total transaction of $766,648.98. Following the completion of the sale, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the sale, the insider now owns 9,383 shares in the company, valued at $2,221,612.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Shane Trigg sold 3,501 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the completion of the transaction, the chief executive officer now directly owns 81,699 shares of the company’s stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,852 shares of company stock worth $4,100,322. Insiders own 9.15% 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.