KeyBanc Reiterates Overweight Rating on AppFolio (APPF)

KeyBanc analyst Jason Celino reiterated an Overweight rating and $225.00 price target on AppFolio (NASDAQ: APPF).

The analyst commented: "First-Round Pick Performance; Solid 1Q Beat and Full-Year Guidance Raise; AppFolio reported strong 1Q results, with both Value Added Services and Subscription Services (fka Core Solutions) accelerating vs. 4Q, and raised the full-year guide by slightly more than the total revenue beat. The quarterly outperformance was driven by residential new unit acquisition, improving tier upgrades to Plus/Max, and better than expected card mix. From our callback, we're most encouraged by the early traction with ROL and Performers, and investment in sales capacity. We continue to view AppFolio as a solid executor with several durable growth drivers. We reiterate our OW rating."

For an analyst ratings summary and ratings history on AppFolio click here. For more ratings news on AppFolio click here.

Shares of AppFolio closed at $152.30 yesterday.

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