AppFolio stock had its Relative Strength (RS) Rating upgraded from 78 to 94 Monday. The stock surged last Friday to a fresh 52-week high on upbeat Q4 2023 earnings results.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners often have an RS Rating of above 80 as they launch their largest price moves.
Looking For Winning Stocks? Try This Simple Routine
Is AppFolio Stock A Buy?
The IBD 50 stock is within a buy range after moving past a 211.41 entry in a cup without handle. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity..
The real estate management tech company posted quarterly earnings of $0.88 per share, up from analysts' consensus estimate of $0.71. Revenue grew from 32% to 39% to $171.83 million.
AppFolio stock earns the No. 10 rank among its peers in the Computer Software-Special Enterprise industry group. DoubleVerify, HubSpot and Atlassian Cl A are among the top 5 highly rated stocks within the group.
