APPF - AppFolio: Enormous Drivers To Keep Pushing Rally Forward
2024-07-10 15:15:26 ET
Summary
- AppFolio stock has surged nearly 50% YTD, but the rally still has legs.
- The company recently rolled out its most expensive, feature-rich Max subscription plan, designed for larger and more complex property managers as AppFolio moves upmarket.
- The company is also noting success with using Realm-X, its AI copilot feature, as a key sales trigger.
- Though expensive at ~10x FY25 revenue, AppFolio's growth premium plus its "Rule of 40" metrics provide plenty of tailwinds for the stock moving forward.
Amid the rapid rise of tech stocks this year due to AI fervor, it's refreshing to highlight one stock whose ascent had very little to do with AI: AppFolio ( APPF ). The real estate and property management software company has had a tremendous breakout this year, both adding a substantial number of new units under management plus taking advantage of recent efficiency moves to drive a very visible boost in profitability....
AppFolio: Enormous Drivers To Keep Pushing Rally Forward