AppFolio shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY26 sales guidance.

PURE HomeRiver Deepens Its Commitment to AppFolio to Power the Next Phase of Its Growth

PURE HomeRiver Property Management, the nation's largest third-party single-family rental property management company operating in 35+ states, has renewed its commitment to AppFolio as its single platform of choice. The company, which manages 40,000+ properties and plans to scale to 60,000, upgraded to AppFolio Plus in 2022 and will consolidate all operations onto the unified platform to standardize processes and support future growth.

Software companies are trading higher amid broader market strength, lifting the industry alongside other tech peers. Investor optimism about Palantir's Q2 financial results could act as a bellwether, indicating broader industry growth.

Shares of software companies are trading higher as the industry extends its recent rally, which may be due to investors rotating out of weakened semiconductor and AI hardware stocks into less capital-intensive areas of the tech sector. The industry may be buoyed by trader optimism ahead of Microsoft's Q4 earnings that will be reported after the market closes.

Nasdaq 100 Enters Correction, SanDisk Sinks Over 50% From Peak: Stock Market Today

A deepening chip rout drags the Nasdaq while Coca-Cola and Sherwin-Williams beats power the Dow; oil dives 5% on Iran diplomacy as the Fed meets.