Ellie Mae Rating Lowered to Market Perform at JMP Securities (ELLI)
Ellie Mae (AMEX:ELLI) was downgraded by analysts at JMP Securities from a “market outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, AnalystRatings.NET reports.
A number of other analysts have also recently weighed in on ELLI. Analysts at FBR Capital Markets raised their price target on shares of Ellie Mae from $35.00 to $37.00 in a research note to investors on Monday, September 23rd. They now have an “outperform” rating on the stock. Analysts at Maxim Group raised their price target on shares of Ellie Mae from $35.00 to $37.00 in a research note to investors on Thursday, September 5th. They now have a “buy” rating on the stock.
Ellie Mae (AMEX:ELLI) traded down 6.48% during mid-day trading on Wednesday, hitting $29.89. 3,567,361 shares of the company’s stock traded hands. Ellie Mae has a 1-year low of $18.61 and a 1-year high of $33.24. The stock’s 50-day moving average is $30.86 and its 200-day moving average is $26.2. The company has a market cap of $791.1 million and a P/E ratio of 49.17.
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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