AppFolio (APPF)
Runs property-management workflows through cloud software and transaction-linked services.
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Cloud software and transaction-linked services help U.S. property managers run operations. Subscription Services and Value Added Services form the business, with payments, screening, and risk-mitigation usage shaping growth.
Property Manager Subscription Services Plans serve U.S. property-management businesses, pairing centralized cloud software with transaction-linked services. Revenue is organized among Subscription Services, Value Added Services, and Other.
Realm-X adds Assistant, Messages, Flows, and Performers to the platform for property-management workflows. The platform supports single-family, multifamily, student housing, affordable housing, community associations, commercial markets, and investment management. The planned MyCase sale marked the retreat from legal software.
Electronic payments, tenant screening, and risk-mitigation services are central value-added offerings. Most revenue comes from U.S. customers, and future growth depends on adding customers and units, plus broader adoption and usage of Value Added Services.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | KeyBanc | Reiterate | Rating: —Target: $255 | Target: $280 |
| Jul 24, 2026 | D.A. Davidson | Target | Target: $325 | Target: $225 |
| Jul 22, 2026 | Guggenheim | Initiate | Rating: —Target: — | Target: $232 |
| Apr 24, 2026 | UBS | Target | Target: $275 | Target: $210 |
| Jan 30, 2026 | UBS | Target | Target: $260 | Target: $275 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $221.7M · Total debt $35.8M · Total assets $648.4M · Shareholders' equity $526.1M
- Revenue
- $281.1M
- Operating income
- $53.0M
- Net income
- $41.5M
No dividends on record.
| Institutions | 66.95% | 23.71M shares | |
|---|---|---|---|
| 410 holders · as of Jun 30, 2026 | |||
| Insiders | 33.01% | 11.69M shares | |
| 21 holders · as of Aug 24, 2026 | |||
| Strategic holders | 3.56% | 1.26M shares | |
| 2 holders · as of Jul 1, 2026 | |||
| Adds to | 103.52% | ||
35.42M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 103.52%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Maurice J. Duca1Insider10 percent owner | 17.97% | 6.41M COMPANY | filed Aug 24, 2026 |
Klaus SchauserInsider10 percent owner | 8.10% | 2.36M B · 505,000 A | filed Nov 19, 2025 |
BlackRock, Inc.Institution | 7.47% | 2.65M A | as of Jun 30, 2026 |
Principal Financial Group IncInstitution | 4.53% | 1.61M A | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.21% | 1.49M A | as of Jun 30, 2026 |
- Maurice J. Duca's transaction reports restate only vehicles that traded; the 2026 ownership statement (6.41M) less the 46.3K net shares sold since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Maurice J. Duca | 10 percent owner | −2,656 | $221.85 |
| Aug 20, 2026 | Maurice J. Duca | 10 percent owner | −7,200 | $217.77 |
| Aug 19, 2026 | Maurice J. Duca | 10 percent owner | −7,200 | $213.37 |
| Aug 18, 2026 | Maurice J. Duca | 10 percent owner | −7,857 | $203.41 |
| Aug 19, 2026 | Timothy Mathias Eaton | officer: Chief Financial Officer | −373 | $202.61 |
- Zillow Group Class C
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- SmartRent
Smart-home and operations SaaS for multifamily properties
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| AppFolio | $204.53 | −2.53% | $7.50B | 47.9 | 26.4 | 7.2 | +19.3% |
| Zillow Group Class C | $30.36 | −0.96% | $7.37B | 138.8 | 11.9 | 2.6 | +17.9% |
| CoStar Group | $28.42 | −2.13% | $11.77B | 158.2 | 18.3 | 3.3 | +18.4% |
| SmartRent | $1.20 | +3.02% | $223.7M | — | — | 1.5 | +0.2% |
| Median | 148.5 | 15.1 | 2.6 | +17.9% |