AppFolio price target lowered to $265 from $300 at Piper Sandler

Piper Sandler lowered the firm’s price target on AppFolio (APPF) to $265 from $300 and keeps an Overweight rating on the shares following Q3 report. Despite solid execution, the firm is lowering its 2025 growth forecast to 17% from 20% factoring in a “slightly more challenging” industry backdrop. Piper said AppFolio remains “well positioned” to sustain Rule of 40 even on moderating top-line growth given the pace of improving operating margins.