Equities analysts forecast that AppFolio, Inc. (NASDAQ:APPF) will post $93.43 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for AppFolio’s earnings, with the highest sales estimate coming in at $94.66 million and the lowest estimate coming in at $92.20 million. AppFolio posted sales of $84.09 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The business is expected to announce its next quarterly earnings results on Monday, November 8th.
According to Zacks, analysts expect that AppFolio will report full year sales of $352.87 million for the current fiscal year, with estimates ranging from $352.70 million to $353.04 million. For the next year, analysts expect that the company will report sales of $421.87 million, with estimates ranging from $419.60 million to $424.15 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow AppFolio.
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AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Sunday, August 8th. The software maker reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.04). AppFolio had a net margin of 43.04% and a return on equity of 48.85%. The business had revenue of $89.04 million for the quarter, compared to analyst estimates of $89.43 million.
Several research analysts have recently issued reports on APPF shares. Zacks Investment Research upgraded AppFolio from a “sell” rating to a “hold” rating in a research report on Tuesday, May 4th. DA Davidson upgraded AppFolio from an “underperform” rating to a “neutral” rating and reduced their price target for the stock from $126.00 to $122.00 in a research report on Tuesday, May 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. AppFolio currently has a consensus rating of “Hold” and a consensus target price of $129.00.
Hedge funds have recently bought and sold shares of the business. Brown Capital Management LLC raised its stake in shares of AppFolio by 18.7% in the 2nd quarter. Brown Capital Management LLC now owns 3,395,644 shares of the software maker’s stock valued at $479,465,000 after purchasing an additional 535,970 shares during the period. Morgan Stanley raised its stake in shares of AppFolio by 64.9% in the 1st quarter. Morgan Stanley now owns 1,232,967 shares of the software maker’s stock valued at $174,354,000 after purchasing an additional 485,480 shares during the period. Ownership Capital B.V. acquired a new stake in shares of AppFolio in the 1st quarter valued at about $39,035,000. Ashe Capital Management LP raised its stake in shares of AppFolio by 10.1% in the 1st quarter. Ashe Capital Management LP now owns 1,975,215 shares of the software maker’s stock valued at $279,315,000 after purchasing an additional 181,499 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of AppFolio by 29.2% in the 2nd quarter. New York State Common Retirement Fund now owns 531,295 shares of the software maker’s stock valued at $75,019,000 after purchasing an additional 120,203 shares during the period. Hedge funds and other institutional investors own 42.26% of the company’s stock.
APPF stock opened at $126.59 on Wednesday. The firm has a market cap of $4.38 billion, a PE ratio of 32.29 and a beta of 1.09. The company’s fifty day simple moving average is $138.67. AppFolio has a fifty-two week low of $110.22 and a fifty-two week high of $186.59.
AppFolio, Inc engages in the provision of cloud-based software solutions. The firm caters to small and medium-sized businesses in the property management and legal industries. It offers the following solutions: AppFolio Property Manager, Tenant Screening Services, Maintenance Contact Center, Premium Leads, Tenant Debt Collections and MyCase.
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