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Shares of Ellie Mae (NASDAQ:ELLI) have received an average recommendation of “Buy” from the seven brokerages that are presently covering the company, AnalystRatings.Net reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $36.40.

Ellie Mae (NASDAQ:ELLI) traded down 2.15% during mid-day trading on Friday, hitting $33.72. 52,308 shares of the company’s stock traded hands. Ellie Mae has a 1-year low of $22.46 and a 1-year high of $36.22. The stock’s 50-day moving average is $32.59 and its 200-day moving average is $29.27. The company has a market cap of $955.0 million and a P/E ratio of 98.18.

Ellie Mae (NASDAQ:ELLI) last released its earnings data on Thursday, July 31st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the 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 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.

A number of research firms have recently commented on ELLI. Analysts at Barclays raised their price target on shares of Ellie Mae from $36.00 to $42.00 in a research note on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at TheStreet upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Finally, 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.

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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