Why AppFolio Stock Is Plummeting Today

Shares of AppFolio (APPF -16.39%) are tumbling on Friday. The company's stock fell 15.7% as of noon today, but was down as much as 16.9% earlier in the day. The decline comes as the S&P 500 and Nasdaq Composite were mostly flat.The software-as-a-service (SaaS) company reported first-quarter results that narrowly missed expectations despite 16% year-over-year sales growth.Revenue is growing, but not quite as much as expectedAppFolio, which serves the real estate industry, reported first-quarter earnings per ...