Analysts at Stephens upgraded AppFolio (NASDAQ:APPF) from Equal Weight to Overweight and increased the price target from $184.00 to $212.00. As a result, shares surged more than 11% intra-day today.

The upgrade is based on the company’s recent leadership changes and strategic moves aimed at improving profit margins. The analysts noted that the focus on profitability has been a missing piece in the AppFolio story, and they expect these changes to lead to a shift toward profitable growth.

The analysts predict that AppFolio has the potential to exceed expectations and raise the outlook for 2023, which could result in higher consensus estimates for this year and the next. Looking further ahead, the analysts see a positive trajectory for the company with above-average revenue growth compared to peers and a substantial expansion in profit margins, potentially reaching +680 basis points in 2024.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

× ¿Cómo puedo ayudarte?