Wall Street brokerages expect AppFolio Inc (NASDAQ:APPF) to post sales of $47.72 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for AppFolio’s earnings. The lowest sales estimate is $47.71 million and the highest is $47.73 million. AppFolio posted sales of $37.90 million in the same quarter last year, which would indicate a positive year over year growth rate of 25.9%. The firm is expected to announce its next quarterly earnings results on Monday, November 5th.
On average, analysts expect that AppFolio will report full year sales of $184.61 million for the current financial year, with estimates ranging from $183.89 million to $185.00 million. For the next fiscal year, analysts forecast that the company will post sales of $229.59 million per share, with estimates ranging from $223.88 million to $232.56 million. Zacks’ sales averages are an average based on a survey of analysts that follow AppFolio.
AppFolio (NASDAQ:APPF) last announced its earnings results on Monday, July 30th. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. AppFolio had a net margin of 10.92% and a return on equity of 20.10%. The company had revenue of $47.24 million for the quarter, compared to the consensus estimate of $45.55 million. AppFolio’s revenue for the quarter was up 31.7% on a year-over-year basis.
A number of research firms have recently weighed in on APPF. BidaskClub raised shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 16th. Morgan Stanley downgraded shares of AppFolio from an “equal weight” rating to an “underweight” rating in a research note on Friday, June 1st. Zacks Investment Research downgraded shares of AppFolio from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, TheStreet raised shares of AppFolio from a “c” rating to a “b-” rating in a research note on Monday, June 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $70.50.
NASDAQ APPF opened at $90.85 on Friday. AppFolio has a 1-year low of $37.56 and a 1-year high of $91.20. The firm has a market capitalization of $3.05 billion, a PE ratio of 322.14 and a beta of 0.87.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of AppFolio by 37.3% in the second quarter. BlackRock Inc. now owns 894,987 shares of the software maker’s stock worth $54,728,000 after acquiring an additional 243,372 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in AppFolio by 3.6% in the second quarter. Renaissance Technologies LLC now owns 500,400 shares of the software maker’s stock worth $30,599,000 after purchasing an additional 17,200 shares in the last quarter. Granite Investment Partners LLC bought a new stake in AppFolio in the second quarter worth $16,046,000. Echo Street Capital Management LLC bought a new stake in AppFolio in the first quarter worth $7,065,000. Finally, Dimensional Fund Advisors LP boosted its holdings in AppFolio by 33.7% in the second quarter. Dimensional Fund Advisors LP now owns 163,403 shares of the software maker’s stock worth $9,992,000 after purchasing an additional 41,172 shares in the last quarter. 29.95% of the stock is currently owned by institutional investors and hedge funds.
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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