AppFolio Inc (APPF) Forecasted to Earn FY2018 Earnings of $0.64 Per Share

AppFolio Inc (NASDAQ:APPF) – Research analysts at KeyCorp dropped their FY2018 earnings per share estimates for shares of AppFolio in a research report issued on Monday, October 29th. KeyCorp analyst M. Garg now anticipates that the software maker will post earnings per share of $0.64 for the year, down from their prior estimate of $0.71. KeyCorp also issued estimates for AppFolio’s Q4 2018 earnings at $0.15 EPS, Q1 2019 earnings at $0.22 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.30 EPS and FY2019 earnings at $1.05 EPS.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Monday, October 29th. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.05). The business had revenue of $50.13 million during the quarter, compared to the consensus estimate of $47.72 million. AppFolio had a return on equity of 20.57% and a net margin of 11.20%. The company’s revenue for the quarter was up 32.2% on a year-over-year basis.

Several other brokerages have also issued reports on APPF. BidaskClub lowered shares of AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 22nd. Zacks Investment Research upgraded shares of AppFolio from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Thursday, August 2nd. Finally, Morgan Stanley raised their price objective on shares of AppFolio from $52.00 to $56.00 and gave the company a “sell” rating in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. AppFolio presently has a consensus rating of “Hold” and an average target price of $70.50.

Shares of AppFolio stock opened at $57.10 on Thursday. The stock has a market capitalization of $1.86 billion, a P/E ratio of 203.93 and a beta of 0.89. AppFolio has a 1 year low of $37.56 and a 1 year high of $91.49.

In other AppFolio news, insider Jonathan Walker sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $73.03, for a total transaction of $2,190,900.00. Following the completion of the sale, the insider now directly owns 30,000 shares in the company, valued at approximately $2,190,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William R. Rauth III sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $63.40, for a total transaction of $1,268,000.00. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,268,000. The disclosure for this sale can be found here. 41.96% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning purchased a new stake in shares of AppFolio during the 2nd quarter valued at about $255,000. Ingalls & Snyder LLC purchased a new stake in shares of AppFolio during the 3rd quarter valued at about $262,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of AppFolio during the 2nd quarter valued at about $294,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of AppFolio by 60.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,857 shares of the software maker’s stock valued at $297,000 after acquiring an additional 1,831 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new stake in shares of AppFolio during the 2nd quarter valued at about $315,000. 30.01% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for AppFolio (NASDAQ:APPF)

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