KeyBanc analyst Jason Celino raised the firm’s price target on AppFolio to $141 from $131 and keeps an Overweight rating on the shares. AppFolio’s Q4 results beat on the top line by $6M and operating margin was "better," and while 2023 revenue and operating margin guidance looks more in line, the company is likely incorporating some aspects of conservatism, the analyst tells investors in a research note.
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