Keefe Bruyette upgraded AppFolio (APPF) to Outperform from Market Perform with a $311 price target The firm said its upgraded is rooted in: the shares have underperformed by 31% since early August, with valuation near the low end of historical multiples; the firm expects the recent and pending launches of several AI and resident services products to accelerate revenue growth above 20%; the firm believes this growth acceleration is underappreciated, and; the company’s mid-November investor day could serve as a catalyst for spotlighting underappreciated growth drivers form AI and resident services.
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