APPF - AppFolio: Digital Rent Payment Shift To Fuel Top-Line Growth
2024-04-27 04:02:59 ET
Summary
- AppFolio has exceeded expectations with a 52% increase in stock price since initial coverage.
- The company's strong Q1 performance includes steady top-line growth and improved profitability.
- The growth driver for AppFolio is the adoption of its online payment and tenant screening tool, FolioGuard, which contributes to its value-added services segment.
AppFolio ( APPF ) has continued to exceed my expectations. I first covered the stock last year in May , when I rated the stock a buy due to its compelling value proposition and the growing TAM. Today, the stock is trading at $216, up over 52% since my initial coverage. In that coverage, I also provided extensive overview on APPF, its market potential, and also offerings, which I believe should be helpful for investors who are interested in the stock for the first time and wish to learn more. In this coverage, I will focus mostly on reviewing APPF’s potential into FY 2024....
AppFolio: Digital Rent Payment Shift To Fuel Top-Line Growth