ELLIE MAE Given New $36.00 Price Target at Barclays (ELLI)
Analysts at Barclays reduced their price target on shares of ELLIE MAE (NASDAQ:ELLI) from $38.00 to $36.00 in a research report issued to clients and investors on Friday, AnalystRatings.NET reports. The firm currently has an “overweight” rating on the stock. Barclays’ target price points to a potential upside of 24.57% from the stock’s previous close.
Shares of ELLIE MAE (NASDAQ:ELLI) traded down 16.99% on Friday, hitting $23.99. 5,663,971 shares of the company’s stock traded hands. ELLIE MAE has a 52-week low of $18.61 and a 52-week high of $32.61. The stock’s 50-day moving average is $30.83 and its 200-day moving average is $26.73. The company has a market cap of $634.9 million and a P/E ratio of 44.46.
ELLIE MAE (NASDAQ:ELLI) last released its earnings data on Thursday, October 31st. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $0.05. The company had revenue of $33.00 million for the quarter, compared to the consensus estimate of $34.37 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts predict that ELLIE MAE will post $1.10 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ELLI. Analysts at Needham & Company reiterated a “buy” rating on shares of ELLIE MAE in a research note to investors on Friday. They now have a $37.00 price target on the stock. Separately, analysts at Dougherty & Co downgraded shares of ELLIE MAE from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Finally, analysts at JMP Securities downgraded shares of ELLIE MAE from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, October 16th. They now have a $34.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $36.29.
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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