FY2024 Earnings Estimate for AppFolio Issued By DA Davidson

AppFolio, Inc. (NASDAQ:APPF) – Research analysts at DA Davidson increased their FY2024 earnings estimates for shares of AppFolio in a research note issued to investors on Wednesday, January 22nd. DA Davidson analyst G. Luria now expects that the software maker will earn $3.26 per share for the year, up from their previous 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 data on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS.

APPF has been the topic of several other reports. Keefe, Bruyette & Woods lowered AppFolio from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. Piper Sandler downgraded shares of AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective for the company. in a report on Monday, January 6th. Finally, KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $268.57.

AppFolio Price Performance

Shares of APPF stock opened at $257.62 on Thursday. AppFolio has a 1-year low of $172.98 and a 1-year high of $274.56. The firm’s 50-day simple moving average is $251.19 and its 200-day simple moving average is $235.80. The firm has a market cap of $9.36 billion, a P/E ratio of 71.76 and a beta of 0.87.

Insider Activity

In other news, insider Matthew S. Mazza sold 926 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $229.04, for a total value of $212,091.04. Following the transaction, the insider now owns 33,819 shares of the company’s stock, valued at $7,745,903.76. This represents a 2.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William Shane Trigg sold 3,500 shares of AppFolio stock in a transaction on Friday, November 15th. The stock was sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the transaction, the chief executive officer now directly owns 74,327 shares in the company, valued at approximately $17,084,060.95. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,768 shares of company stock worth $5,744,891 in the last three months. Company insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in AppFolio by 85.7% during the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after acquiring an additional 54 shares during the period. UMB Bank n.a. lifted its position in AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after acquiring an additional 186 shares in the last quarter. Quarry LP increased its position in shares of AppFolio by 147.9% during the 2nd quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after purchasing an additional 142 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of AppFolio in the third quarter valued at $79,000. Institutional investors own 85.19% 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.