Ellie Mae Inc. (NYSE:ELLI) Receives Consensus Rating of “Buy” from Analysts
Ellie Mae Inc. (NYSE:ELLI) has been given an average rating of “Buy” by the eleven brokerages that are currently covering the stock. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $94.89.
ELLI has been the topic of several research reports. Pacific Crest initiated coverage on Ellie Mae in a research report on Tuesday, September 6th. They issued an “overweight” rating and a $124.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Ellie Mae in a research report on Friday, September 9th. They issued an “overweight” rating and a $118.00 price objective on the stock. Barclays PLC cut their price objective on Ellie Mae from $110.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Friday, July 29th. Finally, Needham & Company LLC raised their price objective on Ellie Mae from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, July 29th.
Institutional investors have recently bought and sold shares of the company. BlueMountain Capital Management LLC purchased a new position in Ellie Mae during the first quarter worth approximately $233,000. LPL Financial LLC increased its position in Ellie Mae by 20.2% in the first quarter. LPL Financial LLC now owns 9,776 shares of the company’s stock worth $866,000 after buying an additional 1,646 shares during the period. Westend Capital Management LLC increased its position in shares of Ellie Mae by 2.7% in the first quarter. Westend Capital Management LLC now owns 23,645 shares of the company’s stock worth $2,143,000 after buying an additional 620 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Ellie Mae by 19.5% in the first quarter. Envestnet Asset Management Inc. now owns 10,005 shares of the company’s stock worth $907,000 after buying an additional 1,635 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Ellie Mae during the first quarter worth approximately $320,000. Institutional investors and hedge funds own 95.88% of the company’s stock.
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Shares of Ellie Mae (NYSE:ELLI) traded up 0.14% during mid-day trading on Friday, hitting $102.27. The company had a trading volume of 191,588 shares. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 132.82 and a beta of 0.21. Ellie Mae has a 52-week low of $57.88 and a 52-week high of $105.98. The stock’s 50-day moving average is $98.30 and its 200-day moving average is $90.98.
Ellie Mae Company Profile
Ellie Mae, Inc (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.
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