AppFolio Inc. ( APPF - Free Report) , a Zacks Ranked #1 (Strong Buy), offers cloud-based software solutions for property management and legal industries. It offers AppFolio Property Manager, a solution for the property managers including activities of posting and tracking tenant vacancies, handling the entire leasing process electronically, administering maintenance and repairs with their vendor networks, managing accounting and reporting to property owners. MyCase solution for practitioners and small law firms, providing time tracking, billing and payments, client communication, coordination with other lawyers and support staff, legal document management and assembly and general office administration services. Value+ services include Websites and electronic payment services. AppFolio, Inc. is headquartered Goleta, California. Recent News and Earnings The company recently reported Q2 17 earnings where they beat both the Zacks consensus earnings and revenue estimates for the fifth consecutive quarter. Total revenues grew by +37%, and total billings were up +32.2% on a year over year (YoY) basis. The Value+ services saw the biggest YoY improvement in revenues as they were up +43%. The Property Management arm of the business saw the number of customers increase by +17% YoY, and the number of units under management rise by +22% YoY. The Legal segment saw customer growth improve by +21% YoY to almost 9,000 customers. The average revenues per unit jumped up by +38% as management streamlined sales, improved marketing performance, and targeted higher value customers. Due to the impressive quarterly performance, management increased FY 17 guidance from a range between $136-138 million to a range between $138-139 million indicating a +31-32% YoY increase. The Board of Directors also announced that the current CEO Brian Donahoo will be retiring and that Jason Randall will take over the position. Mr. Donahoo will be available through the end of the year to ensure a smooth transition. Mr. Randall was the SVP, and has been with the company for over nine years. While the retirement was not expected, the street viewed the transition as a positive. Price and Earnings Consensus Graph As you can see in the graph below, the company’s stock price and future earnings estimates have been increasing throughout 2017, and are expected to continue to grow into 2018.