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Ellie Mae (NASDAQ:ELLI) was upgraded by research analysts at Dougherty & Co from a “hold” rating to a “buy” rating in a report released on Monday, TheFlyOnTheWall.com reports.

In other Ellie Mae news, VP Elisa Lee unloaded 3,729 shares of the stock on the open market in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $30.05, for a total value of $112,056.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Several other analysts have also recently commented on the stock. Analysts at FBR Capital Markets reiterated a “marketperform” rating on shares of Ellie Mae in a research note on Friday, April 11th. They now have a $37.00 price target on the stock, up previously from $29.00. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $36.80.

Shares of Ellie Mae (NASDAQ:ELLI) traded up 0.37% during mid-day trading on Monday, hitting $31.005. The stock had a trading volume of 82,137 shares. Ellie Mae has a one year low of $21.96 and a one year high of $33.24. The stock has a 50-day moving average of $27.88 and a 200-day moving average of $27.38. The company has a market cap of $871.6 million and a price-to-earnings ratio of 93.61.

Ellie Mae (NASDAQ:ELLI) last announced its earnings results on Thursday, May 1st. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $32.20 million for the quarter, compared to the consensus estimate of $30.83 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that Ellie Mae will post $0.98 earnings per share 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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