Benzinga - by Lekha Gupta, Benzinga Editor. Stephens & Co. analyst John Campbell upgraded AppFolio Inc (NASDAQ: APPF) to Overweight from Equal-Weight at an increased price target of $212 from $184.
The analyst is pleased with the change in leadership and recent actions to boost margin, signaling a focus on profitable growth.
Campbell sees a beat-and-raise path in FY23, which will push the consensus estimates higher this and next year.
Beyond that, the analyst believes that the company is expected to witness above-peer average revenue growth and strong margin expansion (+680bps in FY24).
The analyst revised FY23 estimates for revenue and adjusted EPS to $598.3 million (from $598.700 million, vs. consensus $596.200 million) and $1.18 from $1.07 (vs. consensus $0.97).
Campbell increased estimates for revenue and adjusted EPS to $747.38 million (from $737.63 million, vs. consensus $735.84 million) and $2.72 (from $2.11, vs. consensus $1.84).
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Price Action: APPF shares are up 11.15% at $185.57 on the last check Monday.
Latest Ratings for APPF
| Feb 2022 | Stephens & Co. | Upgrades | Underweight | Equal-Weight |
| May 2021 | DA Davidson | Upgrades | Underperform | Neutral |
| Jan 2021 | Stephens & Co. | Initiates Coverage On | Underweight |
View the Latest Analyst Ratings
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