What's An Attractive Play In US Residential Real Estate Amid Rising Interest Rates? Analyst Highlights AppFolio
Portfolio Pulse from Lekha Gupta
J.P.Morgan analyst Alexei Gogolev initiated coverage on AppFolio Inc (NASDAQ:APPF) with an Overweight rating and a price target of $200. The analyst believes APPF is an attractive play in the U.S. real estate market amid high-interest rates and increased vacancies from newly constructed residential properties. APPF posted Q2 FY23 revenues of $147.1 million, beating the consensus of $143.8 million, and EPS of $0.23, beating the consensus of $0.12.
August 17, 2023 | 5:38 pm
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AppFolio Inc (APPF) has been rated as an attractive investment by J.P.Morgan analyst Alexei Gogolev, with a price target of $200. The company's Q2 FY23 revenues and EPS have exceeded expectations.
The positive rating from a J.P.Morgan analyst, along with the company's strong Q2 FY23 performance, are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100