Maxim Group Reiterates “Buy” Rating for ELLIE MAE (ELLI)
ELLIE MAE (NASDAQ:ELLI)‘s stock had its “buy” rating reaffirmed by research analysts at Maxim Group in a report released on Monday, Analyst Ratings.Net reports. They currently have a $37.00 target price on the stock. Maxim Group’s target price indicates a potential upside of 16.24% from the company’s current price.
Separately, analysts at FBR Capital Markets raised their price target on shares of ELLIE MAE (NASDAQ:ELLI) from $35.00 to $37.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock.
One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $33.43.
ELLIE MAE (NASDAQ:ELLI) traded up 1.24% during mid-day trading on Monday, hitting $31.85. The stock had a trading volume of 509,749 shares. ELLIE MAE has a 52 week low of $18.61 and a 52 week high of $32.61. The stock has a 50-day moving average of $29.73 and a 200-day moving average of $25.04. The company has a market cap of $843.0 million and a P/E ratio of 48.40.
ELLIE MAE (NASDAQ:ELLI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.29. The company had revenue of $34.30 million for the quarter, compared to the consensus estimate of $33.90 million. During the same quarter last year, the company posted $0.27 earnings per share. ELLIE MAE’s revenue was up 45.3% compared to the same quarter last year. Analysts expect that ELLIE MAE will post $1.10 EPS for the current fiscal year.
Ellie Mae, Inc is a provider of on-demand automation solutions for the mortgage industry. The Company offers an end-to-end solution, delivered using a software-as-a-service model that serves as the core operating system for mortgage originators and spans customer relationship management, loan origination and business management.
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