Why AppFolio Stock Rocketed to a New All-Time High Today
AppFolio(APPF) The Motley Fool·2024-01-27 02:02
Real-estate management technology company AppFolio (APPF 27.00%) reported financial results for the fourth quarter of 2023 after the market closed on Thursday. Investors clearly liked what they saw: Shares rocketed higher Friday morning, and as of 1 p.m. ET, AppFolio stock was up by more than 29% and had even hit a new all-time high.The company is growing profitablyIn Q4, AppFolio's revenue rose a whopping 39% year over year to $172 million. This was its fastest quarterly growth rate in nearly a decade and ...