Ellie Mae Inc (ELLI) Shares Down 6%
Shares of Ellie Mae Inc (NASDAQ:ELLI) were down 6% on Friday . The stock traded as low as $92.16 and last traded at $92.61, with a volume of 662,506 shares trading hands. The stock had previously closed at $98.47.
Several analysts recently weighed in on ELLI shares. Needham & Company LLC raised their price objective on Ellie Mae from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised Ellie Mae from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Wednesday, July 6th. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $100.00 price target on shares of Ellie Mae in a research note on Wednesday, June 15th. Barclays PLC lifted their price target on Ellie Mae from $97.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, JMP Securities lifted their price target on Ellie Mae from $94.00 to $107.00 and gave the company a “market outperform” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Ellie Mae has a consensus rating of “Buy” and an average price target of $109.40.
The stock has a market cap of $2.76 billion and a PE ratio of 135.66. The company’s 50 day moving average price is $91.47 and its 200 day moving average price is $82.88.
Ellie Mae (NASDAQ:ELLI) last posted its earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.09. The firm had revenue of $90.10 million for the quarter, compared to analysts’ expectations of $85.54 million. The company’s revenue was up 36.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. On average, equities research analysts anticipate that Ellie Mae Inc will post $1.94 EPS for the current fiscal year.
In related news, CFO Edgar Luce sold 5,000 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $92.27, for a total transaction of $461,350.00. Following the completion of the transaction, the chief financial officer now owns 71,596 shares in the company, valued at approximately $6,606,162.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Corr sold 3,500 shares of the company’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $91.13, for a total transaction of $318,955.00. Following the transaction, the chief executive officer now owns 114,843 shares of the company’s stock, valued at approximately $10,465,642.59. The disclosure for this sale can be found here.
Ellie Mae, Inc (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.
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