AppFolio (APPF) closed the most recent trading day at $208.48, moving +1.32% from the previous trading session. This change outpaced the S&P 500's 0.86% gain on the day. On the other hand, the Dow registered a gain of 0.98%, and the technology-centric Nasdaq increased by 0.96%.
Prior to today's trading, shares of the property management software maker had gained 0.88% outpaced the Computer and Technology sector's loss of 0.56% and the S&P 500's loss of 1.96%.
Market participants will be closely following the financial results of AppFolio in its upcoming release. The company is forecasted to report an EPS of $1.78, showcasing a 35.88% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $294.05 million, up 17.92% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.91 per share and a revenue of $1.12 billion, signifying shifts of +30.62% and +18.32%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for AppFolio. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.21% higher within the past month. AppFolio is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, AppFolio currently has a Forward P/E ratio of 29.78. This represents a premium compared to its industry average Forward P/E of 19.87.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 85, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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