DA Davidson analyst Gil Luria lowered the firm’s price target on AppFolio (APPF) to $325 from $375 and keeps a Buy rating on the shares. The firm cites the company’s lowered FY25 profitability outlook which incorporates elevated operating expenses from bonus plan over attainment and growth investments, the analyst tells investors in a research note. The margin trajectory has been altered, but the firm’s long term thesis is unchanged as it sees the pullback as a buying opportunity, DA Davidson added.
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