AppFolio, Inc. (NASDAQ:APPF) provides cloud-based software solutions for the real estate property management industry along with applications for legal practices. The company, with a history going back to 2006 and publicly traded since 2015, has posted impressive growth benefiting from the ongoing transition by customers increasingly utilizing more software-as-a-service tools to market, automate and manage their operations. The stock is up over 400% in just the past three years, with ongoing momentum supported by recent profitability. The company just reported its latest earnings release, which beat expectations while we raise concerns over the