Ellie Mae Inc (ELLI) Receives Consensus Rating of “Buy” from Analysts
Shares of Ellie Mae Inc (NASDAQ:ELLI) have been given a consensus rating of “Buy” by the seven brokerages that are covering the firm. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $114.00.
ELLI has been the topic of a number of analyst reports. Needham & Company LLC increased their price objective on shares of Ellie Mae from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $100.00 price objective on shares of Ellie Mae in a research note on Wednesday, June 15th. Zacks Investment Research cut shares of Ellie Mae from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Barclays PLC increased their target price on shares of Ellie Mae from $97.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, July 29th. Finally, JMP Securities increased their target price on shares of Ellie Mae from $94.00 to $107.00 and gave the stock a “market outperform” rating in a report on Friday, July 29th.
Shares of Ellie Mae (NASDAQ:ELLI) traded down 3.20% on Tuesday, reaching $99.33. 173,855 shares of the company were exchanged. Ellie Mae has a 12 month low of $57.88 and a 12 month high of $105.98. The company’s 50-day moving average price is $98.65 and its 200 day moving average price is $91.37. The company has a market cap of $3.00 billion and a price-to-earnings ratio of 129.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/ellie-mae-inc-elli-receives-consensus-rating-of-buy-from-analysts.html
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The firm had revenue of $90.10 million for the quarter, compared to analyst estimates of $85.54 million. The company’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share. On average, equities research analysts expect that Ellie Mae will post $2.05 EPS for the current year.
In related news, CEO Jonathan Corr sold 31,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $96.72, for a total value of $3,046,680.00. Following the completion of the transaction, the chief executive officer now owns 112,385 shares in the company, valued at approximately $10,869,877.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Edgar Luce sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $104.25, for a total transaction of $521,250.00. Following the completion of the transaction, the chief financial officer now owns 47,989 shares of the company’s stock, valued at approximately $5,002,853.25. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently modified their holdings of ELLI. Merriman Wealth Management LLC acquired a new position in shares of Ellie Mae during the second quarter worth about $5,346,000. Creative Planning raised its position in shares of Ellie Mae by 2,033.7% in the second quarter. Creative Planning now owns 5,505 shares of the company’s stock worth $505,000 after buying an additional 5,247 shares during the period. Eagle Asset Management Inc. raised its position in shares of Ellie Mae by 127.7% in the second quarter. Eagle Asset Management Inc. now owns 553,475 shares of the company’s stock worth $50,725,000 after buying an additional 310,427 shares during the period. Summit Creek Advisors LLC raised its position in shares of Ellie Mae by 46.7% in the second quarter. Summit Creek Advisors LLC now owns 182,974 shares of the company’s stock worth $16,770,000 after buying an additional 58,208 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Ellie Mae during the second quarter worth about $174,000.
About Ellie Mae
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.
Receive News & Ratings for Ellie Mae Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellie Mae Inc and related companies with MarketBeat.com's FREE daily email newsletter.