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Ellie Mae (NASDAQ:ELLI)‘s stock had its “overweight” rating reaffirmed by investment analysts at Barclays in a note issued to investors on Thursday. They currently have a $42.00 target price on the stock, up from their previous target price of $36.00. Barclays’ target price points to a potential upside of 22.27% from the stock’s previous close.

Shares of Ellie Mae (NASDAQ:ELLI) traded up 0.58% during mid-day trading on Thursday, hitting $34.55. The stock had a trading volume of 12,701 shares. Ellie Mae has a 1-year low of $22.46 and a 1-year high of $36.22. The stock has a 50-day moving average of $32.45 and a 200-day moving average of $29.23. The company has a market cap of $978.5 million and a P/E ratio of 97.86.

Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.10. 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 prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Ellie Mae will post $1.00 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $36.40.

In other Ellie Mae news, CEO Sigmund Anderman unloaded 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $35.21, for a total transaction of $352,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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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