AppFolio price target raised to $100 from $95 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on AppFolio to $100 from $95 but keeps a Neutral rating on the shares ahead of its Q4 results this week. The company will likely meet or modestly exceed the firm’s revenue forecasts, though there is a bit less visibility regarding its bottom-line, the analyst tells investors in a research note. The management’s outlook for 2023 should see continued solid revenue growth and potentially a return to operating profits, the firm adds.