Why AppFolio Stock Soared Today
Headed into Thursday's post-close release of its first-quarter results, investors appeared afraid to own (NASDAQ: APPF). As it turns out, however, that fear wasn't merited. The company handily topped its revenue and earnings estimates, sending the stock more than 11% higher on Friday. Indeed, at one point, shares were up to the tune of 19%. Even with the intraday pullback, AppFolio logged an impressive post-earnings gain.
The gain raises a question though: Is this stock actually a buy, particularly after Friday's heroic move?
During the three-month stretch ending in March, real estate technology company AppFolio turned $187.4 million worth of revenue into per-share operating income of $1.05. Sales were up 38% year over year, while the bottom line unwound the year-ago quarterly per-share loss of one cent. Both numbers rolled in above analysts' expectations for a top line of $178.7 million and a profit of $0.89 per share.
Source Fool.com
