What’s AppFolio, Inc. (APPF) Downside After Forming Bearish Multiple Bottom?

June 14, 2018 - By Vivian Park

AppFolio, Inc. (NASDAQ:APPF) Logo

The stock of AppFolio, Inc. (APPF) shows a multiple bottoms pattern with $60.49 target or 8.00 % below today’s $65.75 share price. The 9 months chart pattern indicates high risk for the $2.25B company. It was reported on Jun, 14 by Finviz.com. If the $60.49 price target is reached, the company will be worth $179.76 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 3.79% or $2.4 during the last trading session, reaching $65.75. About 97,099 shares traded. AppFolio, Inc. (NASDAQ:APPF) has risen 101.08% since June 14, 2017 and is uptrending. It has outperformed by 88.51% the S&P500.

Analysts await AppFolio, Inc. (NASDAQ:APPF) to report earnings on August, 6. They expect $0.13 earnings per share, up 62.50 % or $0.05 from last year’s $0.08 per share. APPF’s profit will be $4.44M for 126.44 P/E if the $0.13 EPS becomes a reality. After $0.12 actual earnings per share reported by AppFolio, Inc. for the previous quarter, Wall Street now forecasts 8.33 % EPS growth.

More recent AppFolio, Inc. (NASDAQ:APPF) news were published by: Globenewswire.com which released: “Analysis: Positioning to Benefit within China Biologic Products, Merus NV, Adient, G1 Therapeutics, Westport Fuel, and …” on June 06, 2018. Also Fool.com published the news titled: “10 Reasons Why I’m Selling All of My Apple Stock” on June 10, 2018. Streetinsider.com‘s news article titled: “Pre-Open Stock Movers 05/21: (MBFI) (NBRV) (SHLD) Higher; (PRTA) (QD) (APPF) Lower (more…)” with publication date: May 21, 2018 was also an interesting one.

AppFolio, Inc. provides industry-specific cloud software solutions for small and medium-sized businesses in property management and legal industries. The company has market cap of $2.25 billion. It offers AppFolio Property Manager, a solution for the operational requirements of small and medium-sized property managers, including posting and tracking tenant vacancies, handling the leasing process electronically, administering maintenance and repairs with their vendor networks, and managing accounting and reporting to property owners, as well as for communicating with tenants and owners. It has a 234.82 P/E ratio. The firm also provides MyCase, a practice and case management solution that provides time tracking, billing, calendaring, client communication, and coordination with other lawyers and support staff, and legal document management and assembly for practitioners and small law firms.

AppFolio, Inc. (NASDAQ:APPF) Ratings Chart

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