Ellie Mae Inc (ELLI) Receives Average Recommendation of “Buy” from Analysts
Shares of Ellie Mae Inc (NASDAQ:ELLI) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $114.00.
Several equities analysts have recently issued reports on the company. Pacific Crest assumed coverage on Ellie Mae in a research note on Tuesday, September 6th. They issued an “overweight” rating and a $124.00 price objective for the company. Zacks Investment Research cut Ellie Mae from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Barclays PLC cut Ellie Mae from an “overweight” rating to an “equal weight” rating and set a $97.00 target price for the company. in a research note on Tuesday, July 5th. JMP Securities boosted their target price on Ellie Mae from $94.00 to $107.00 and gave the stock a “market outperform” rating in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. assumed coverage on Ellie Mae in a research note on Friday, September 9th. They set an “overweight” rating and a $118.00 target price for the company.
Shares of Ellie Mae (NASDAQ:ELLI) opened at 99.93 on Tuesday. The stock has a market cap of $3.02 billion and a price-to-earnings ratio of 129.78. The company has a 50-day moving average price of $99.04 and a 200-day moving average price of $91.66. Ellie Mae has a 12 month low of $57.88 and a 12 month high of $105.98.
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. The company earned $90.10 million during the quarter, compared to analysts’ expectations of $85.54 million. The business’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. On average, analysts expect that Ellie Mae will post $2.05 EPS for the current fiscal year.
In other news, EVP Gates Cathleen Schreiner sold 675 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $92.29, for a total value of $62,295.75. Following the transaction, the executive vice president now owns 26,369 shares of the company’s stock, valued at $2,433,595.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Limin Hu sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $102.75, for a total value of $513,750.00. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Ellie Mae during the second quarter worth about $104,000. Daiwa Securities Group Inc. bought a new position in Ellie Mae during the second quarter worth about $174,000. Bank of Montreal Can bought a new position in Ellie Mae during the second quarter worth about $177,000. Eagle Boston Investment Management Inc. bought a new position in Ellie Mae during the third quarter worth about $204,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Ellie Mae during the second quarter worth about $206,000.
Ellie Mae Company Profile
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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