Benzinga - by Priya Nigam, Benzinga Staff Writer.
AppFolio Inc (NASDAQ: APPF) has been in focus after Stephens analyst John Campbell upgraded the stock.
Additionally, the company is moving in an impressive strategic and financial direction, according to William Blair.
The AppFolio Analyst: Stephen Sheldon upgraded the rating for AppFolio to Outperform.
The AppFolio Thesis: Recently, the company has added more units than anticipated, while being focused on profitability, Sheldon said in the upgrade note.
Check out other analyst stock ratings.
AppFolio is likely to experience “a significant uplift from the recent decision to monetize ACH payments,” the analyst wrote. He added that the new management team is “increasing transparency and cost discipline across the organization.”
With this, the risk/reward setup has become “much more favorable even with a valuation that is far from inexpensive,” Sheldon stated.
APPF Price Action: Shares of AppFolio were up 5.54% to $194.00 at the time of publication Monday.
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