AppFolio jumps to record high on S&P MidCap inclusion

AppFolio

26/03/2024 16:13

** AppFolio Inc's  APPF.O  shares jump as much as 11.9% to
record high $253.42 on Tues as online property management
software provider set to join S&P MidCap 400 index  .IDX  next
week
    ** Shares of APPF last up 10.3% at $249.73
    ** APPF to replace Inari Medical  NARI.O  in IDX before open
of trading Mon, Apr 1, S&P Dow Jones Indices announced
    ** In turn, medical device co NARI moving to S&P SmallCap
600  .SPCY  to replace Callon Petroleum, which is being acquired
by APA Corp  APA.N 
    ** NARI's shares rise >5% Tues
    ** With ~35.87 mln shares outstanding, APPF has roughly $9
bln market cap, LSEG data shows
    ** Stock now up 44% YTD and has roughly doubled over the
past 12 months
    ** Avg rating among 7 analysts covering APPF is "buy" and
median PT is $241 - LSEG

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))