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Ellie Mae (NASDAQ:ELLI) announced its earnings results on Thursday. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10, StockRatingsNetwork reports. The company had revenue of $39.98 million for the quarter, compared to the consensus estimate of $36.39 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Ellie Mae updated its Q3 guidance to $0.21-0.23 EPS and its FY14 guidance to $0.98-1.01 EPS.

A number of research firms have recently commented on ELLI. 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $36.80.

In other Ellie Mae news, CEO Sigmund Anderman sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $28.36, for a total transaction of $283,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ellie Mae (NASDAQ:ELLI) traded down 2.31% on Thursday, hitting $28.72. The stock had a trading volume of 277,617 shares. Ellie Mae has a 1-year low of $22.46 and a 1-year high of $33.24. The stock’s 50-day moving average is $29.65 and its 200-day moving average is $27.78. The company has a market cap of $807.4 million and a P/E ratio of 89.09.

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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