AppFolio (NASDAQ:APPF) Rating Lowered to Sell at BidaskClub

Share on StockTwits

AppFolio (NASDAQ:APPF) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, BidAskClub reports.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of AppFolio from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a report on Thursday, October 3rd. DA Davidson lowered shares of AppFolio from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 30th. ValuEngine lowered shares of AppFolio from a “hold” rating to a “sell” rating in a report on Saturday. Finally, KeyCorp began coverage on shares of AppFolio in a report on Tuesday, July 16th. They issued a “sector weight” rating and a $106.10 price objective for the company. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. AppFolio currently has a consensus rating of “Hold” and an average price target of $91.28.

APPF stock opened at $87.02 on Friday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 155.39 and a beta of 1.18. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.56. AppFolio has a 12 month low of $51.15 and a 12 month high of $109.89. The firm has a 50-day moving average price of $95.74 and a 200-day moving average price of $96.69.

AppFolio (NASDAQ:APPF) last posted its earnings results on Monday, July 29th. The software maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.54. The firm had revenue of $63.60 million during the quarter, compared to analysts’ expectations of $63.71 million. AppFolio had a net margin of 15.85% and a return on equity of 33.91%. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, equities analysts predict that AppFolio will post 0.88 EPS for the current fiscal year.

In related news, CEO Jason Robert Randall sold 15,690 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $95.16, for a total value of $1,493,060.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ida Kathleen Kane sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $96.41, for a total transaction of $482,050.00. Following the completion of the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $482,050. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,500 shares of company stock valued at $2,434,698. 42.46% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AppFolio by 24.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 871 shares of the software maker’s stock worth $83,000 after purchasing an additional 170 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in AppFolio by 12.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,950 shares of the software maker’s stock worth $200,000 after purchasing an additional 212 shares during the last quarter. Strs Ohio raised its holdings in AppFolio by 7.8% during the 2nd quarter. Strs Ohio now owns 6,900 shares of the software maker’s stock worth $705,000 after purchasing an additional 500 shares during the last quarter. Aperio Group LLC bought a new position in AppFolio during the 2nd quarter worth approximately $69,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in AppFolio during the 2nd quarter worth approximately $72,000. Hedge funds and other institutional investors own 32.97% of the company’s stock.

About AppFolio

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.

Read More: Why is total return important?

Receive News & Ratings for AppFolio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppFolio and related companies with MarketBeat.com's FREE daily email newsletter.