AppFolio price target lowered to $275 from $300 at DA Davidson

DA Davidson analyst Gil Luria lowered the firm’s price target on AppFolio (APPF) to $275 from $300 and keeps a Buy rating on the shares as part of a broader research note updating estimates within the firm’s coverage of the Software group. The firm is now assuming a base case of one or two quarters of negative GDP in the US this year, which will translate to lower growth and has already translated to lower valuations, the analyst tells investors in a research note. DA Davidson adds that regardless of how the current tariff regime plays out, it sees a slowdown in consumer activity and corporate investment, at least for the next couple of quarters.