Schubert's 'Allegro Moderato' D.347 is a gracefully flowing piece, characteristic of his song-like melodies and developing piano writing. Its musical distinction lies in its beautiful melodic contour and lyrical expression.
Focus on achieving a smooth legato and clear melodic voicing within the flowing sixteenth-note passages.
Allegro Moderato (D.347) is rated Henle level 4 of 9 — intermediate repertoire, roughly ABRSM grades 5–6. In the RCM system it corresponds to about level 6.
You should be comfortable at Henle level 4 — meaning you can already play level 3–4 pieces cleanly. Learning it one level early is possible as a stretch piece, but more than that usually leads to months of frustration.
A typical performance of Allegro Moderato (D.347) lasts about 4 minutes.
Allegro Moderato (D.347) is available as free public-domain sheet music on IMSLP — the score is linked directly from this page.