AppFolio Stock Drops 16% Following Q1 Earnings Decline

(RTTNews) - AppFolio, Inc. (APPF) shares fell 16.15 percent to $196.76, down $37.89 during Friday's trading, after the company reported a year-over-year decline in quarterly earnings. For the first quarter, AppFolio posted revenue of $217.7 million, up from $187.4 million in the prior-year period. However, net income dropped to $31.4 million from $38.7 million.

Shares opened at $208.26 and traded between $195.08 and $208.68 during the session. Volume reached 485,580 shares, compared to an average of 326,248.

AppFolio's stock now trades within a 52-week range of $189.01 to $274.56.