Brokerages Anticipate AppFolio Inc (NASDAQ:APPF) Will Post Quarterly Sales of $67.14 Million

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Equities research analysts predict that AppFolio Inc (NASDAQ:APPF) will post $67.14 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for AppFolio’s earnings, with estimates ranging from $66.40 million to $67.94 million. AppFolio posted sales of $50.13 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.9%. The business is expected to issue its next earnings results after the market closes on Monday, October 28th.

According to Zacks, analysts expect that AppFolio will report full-year sales of $254.68 million for the current financial year, with estimates ranging from $254.00 million to $255.08 million. For the next fiscal year, analysts expect that the business will post sales of $321.70 million, with estimates ranging from $314.90 million to $325.88 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover AppFolio.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Monday, July 29th. The software maker reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.54. AppFolio had a net margin of 15.85% and a return on equity of 33.91%. The firm had revenue of $63.60 million for the quarter, compared to the consensus estimate of $63.71 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The business’s revenue was up 34.7% compared to the same quarter last year.

A number of brokerages have issued reports on APPF. ValuEngine cut AppFolio from a “hold” rating to a “sell” rating in a report on Saturday. DA Davidson cut AppFolio from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 30th. KeyCorp began coverage on AppFolio in a report on Tuesday, July 16th. They set a “sector weight” rating and a $106.10 price objective for the company. Zacks Investment Research raised AppFolio from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a report on Thursday, October 3rd. Finally, BidaskClub cut AppFolio from a “hold” rating to a “sell” rating in a report on Saturday. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. AppFolio presently has an average rating of “Hold” and an average target price of $91.28.

APPF opened at $87.02 on Monday. AppFolio has a fifty-two week low of $51.15 and a fifty-two week high of $109.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.53 and a quick ratio of 1.53. The firm’s fifty day moving average price is $95.74 and its two-hundred day moving average price is $96.69. The company has a market capitalization of $3.12 billion, a P/E ratio of 155.39 and a beta of 1.18.

In related news, CFO Ida Kathleen Kane sold 5,000 shares of AppFolio stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $96.41, for a total value of $482,050.00. Following the completion of the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at $482,050. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Janet Kerr sold 500 shares of AppFolio stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $96.31, for a total value of $48,155.00. Following the completion of the sale, the director now owns 19,324 shares of the company’s stock, valued at $1,861,094.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,500 shares of company stock valued at $2,434,698. Corporate insiders own 42.46% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in AppFolio by 24.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 871 shares of the software maker’s stock valued at $83,000 after buying an additional 170 shares in the last quarter. Atria Investments LLC acquired a new position in AppFolio in the 2nd quarter valued at $126,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in AppFolio by 12.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,950 shares of the software maker’s stock valued at $200,000 after buying an additional 212 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of AppFolio during the 2nd quarter worth $322,000. Finally, Voloridge Investment Management LLC grew its holdings in shares of AppFolio by 28.6% during the 2nd quarter. Voloridge Investment Management LLC now owns 4,915 shares of the software maker’s stock worth $503,000 after purchasing an additional 1,092 shares in the last quarter. Institutional investors own 32.97% of the company’s stock.

AppFolio Company Profile

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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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Earnings History and Estimates for AppFolio (NASDAQ:APPF)

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