AppFolio (APPF) closed at $220.45 in the latest trading session, marking a -3.13% move from the prior day. This move lagged the S&P 500's daily loss of 0.84%. On the other hand, the Dow registered a loss of 0.7%, and the technology-centric Nasdaq decreased by 0.91%.
Coming into today, shares of the property management software maker had gained 3.96% in the past month. In that same time, the Computer and Technology sector gained 0%, while the S&P 500 gained 1.44%.
Investors will be eagerly watching for the performance of AppFolio in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.28, reflecting a 14.29% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $230.3 million, up 16.68% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.14 per share and revenue of $930.84 million, indicating changes of +17.62% and +17.2%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for AppFolio. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.84% decrease. Right now, AppFolio possesses a Zacks Rank of #3 (Hold).
Digging into valuation, AppFolio currently has a Forward P/E ratio of 60.85. This signifies a premium in comparison to the average Forward P/E of 45.44 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 47, finds itself in the top 20% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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AppFolio, Inc. (APPF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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