Equities analysts predict that AppFolio Inc (NASDAQ:APPF) will announce $45.55 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for AppFolio’s earnings, with estimates ranging from $45.51 million to $45.59 million. AppFolio posted sales of $35.88 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27%. The firm is expected to report its next quarterly earnings report on Monday, August 6th.
On average, analysts expect that AppFolio will report full year sales of $181.97 million for the current financial year, with estimates ranging from $180.93 million to $182.94 million. For the next year, analysts expect that the business will report sales of $224.30 million per share, with estimates ranging from $219.04 million to $228.94 million. Zacks’ sales calculations are an average based on a survey of analysts that follow AppFolio.
AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Monday, April 30th. The software maker reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.11. The business had revenue of $42.34 million during the quarter, compared to analysts’ expectations of $41.01 million. AppFolio had a return on equity of 16.05% and a net margin of 8.68%. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS.
A number of equities analysts have commented on the company. BidaskClub lowered AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Monday. Morgan Stanley lowered AppFolio from an “equal weight” rating to an “underweight” rating in a research note on Friday, June 1st. TheStreet upgraded AppFolio from a “d+” rating to a “c” rating in a research note on Tuesday, May 1st. Zacks Investment Research upgraded AppFolio from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Thursday, May 3rd. Finally, ValuEngine upgraded AppFolio from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. AppFolio has a consensus rating of “Hold” and an average price target of $48.67.
In other news, Director William R. Rauth III sold 20,000 shares of AppFolio stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $44.42, for a total value of $888,400.00. Following the transaction, the director now owns 457 shares in the company, valued at approximately $20,299.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ida Kathleen Kane sold 5,000 shares of AppFolio stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the chief financial officer now owns 5,000 shares in the company, valued at approximately $275,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,000 shares of company stock worth $1,413,400. Corporate insiders own 41.96% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of APPF. Schwab Charles Investment Management Inc. increased its stake in shares of AppFolio by 37.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 20,089 shares of the software maker’s stock valued at $834,000 after purchasing an additional 5,489 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of AppFolio by 34.6% in the 4th quarter. Bank of New York Mellon Corp now owns 40,652 shares of the software maker’s stock valued at $1,687,000 after purchasing an additional 10,448 shares during the last quarter. BlackRock Inc. increased its stake in shares of AppFolio by 23.0% in the 4th quarter. BlackRock Inc. now owns 655,395 shares of the software maker’s stock valued at $27,197,000 after purchasing an additional 122,715 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of AppFolio by 12.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 142,199 shares of the software maker’s stock valued at $5,901,000 after purchasing an additional 15,400 shares during the last quarter. Finally, Navellier & Associates Inc increased its stake in shares of AppFolio by 8.0% in the 4th quarter. Navellier & Associates Inc now owns 19,923 shares of the software maker’s stock valued at $827,000 after purchasing an additional 1,476 shares during the last quarter. Institutional investors own 26.93% of the company’s stock.
NASDAQ:APPF opened at $66.50 on Tuesday. The company has a market cap of $2.23 billion, a P/E ratio of 237.50 and a beta of 0.69. AppFolio has a 1-year low of $31.15 and a 1-year high of $66.90.
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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