Ellie Mae Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:ELLI)
Ellie Mae (NASDAQ:ELLI) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company, Stock Ratings Network.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $36.80.
A number of analysts have recently weighed in on ELLI shares. Analysts at TheStreet upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Analysts at Dougherty & Co upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating in a research note on Monday, June 30th.
In other Ellie Mae news, CFO Edgar Luce unloaded 5,000 shares of Ellie Mae stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $31.45, for a total transaction of $157,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Ellie Mae (NASDAQ:ELLI) opened at 29.89 on Wednesday. Ellie Mae has a one year low of $22.46 and a one year high of $33.24. The stock’s 50-day moving average is $29.17 and its 200-day moving average is $27.63. The company has a market cap of $840.3 million and a P/E ratio of 90.88.
Ellie Mae (NASDAQ:ELLI) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.27 earnings per share. Ellie Mae’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Ellie Mae will post $0.99 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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