$110.13 Million in Sales Expected for Ellie Mae Inc (ELLI) This Quarter
Wall Street brokerages predict that Ellie Mae Inc (NASDAQ:ELLI) will post $110.13 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Ellie Mae’s earnings. The highest sales estimate is $112.78 million and the lowest is $108.10 million. Ellie Mae reported sales of $90.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22.2%. The firm is expected to issue its next earnings results on Thursday, July 27th.
On average, analysts expect that Ellie Mae will report full year sales of $110.13 million for the current financial year, with estimates ranging from $436.78 million to $439.89 million. For the next financial year, analysts expect that the company will post sales of $537.93 million per share, with estimates ranging from $526.44 million to $545.09 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Ellie Mae.
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings results on Thursday, April 27th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.03. The company had revenue of $93 million for the quarter, compared to the consensus estimate of $93.17 million. Ellie Mae’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS.
ELLI has been the topic of several research analyst reports. Wedbush began coverage on shares of Ellie Mae in a research note on Monday, March 13th. They set a “neutral” rating and a $109.00 target price on the stock. Zacks Investment Research upgraded shares of Ellie Mae from a “sell” rating to a “hold” rating and set a $116.00 price objective on the stock in a report on Tuesday, April 11th. CIBC upped their price objective on shares of Ellie Mae from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, March 24th. William Blair upgraded shares of Ellie Mae from a “market perform” rating to an “outperform” rating in a report on Monday, April 3rd. Finally, Royal Bank Of Canada lowered their price objective on shares of Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating on the stock in a report on Monday, April 24th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $115.04.
In other news, EVP Brian E. Brown sold 2,196 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $98.23, for a total value of $215,713.08. Following the completion of the transaction, the executive vice president now directly owns 15,707 shares in the company, valued at $1,542,898.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Corr sold 2,210 shares of Ellie Mae stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $112.41, for a total transaction of $248,426.10. Following the sale, the chief executive officer now owns 116,002 shares of the company’s stock, valued at $13,039,784.82. The disclosure for this sale can be found here. Insiders sold 50,375 shares of company stock valued at $5,111,098 over the last 90 days.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of Ellie Mae during the first quarter valued at approximately $214,000. Banco BTG Pactual S.A. purchased a new position in shares of Ellie Mae during the first quarter valued at approximately $221,000. United Capital Financial Advisers LLC purchased a new position in shares of Ellie Mae during the first quarter valued at approximately $231,000. First Allied Advisory Services Inc. purchased a new position in shares of Ellie Mae during the fourth quarter valued at approximately $245,000. Finally, Creative Planning increased its position in shares of Ellie Mae by 31.0% in the first quarter. Creative Planning now owns 2,989 shares of the software maker’s stock valued at $300,000 after buying an additional 707 shares during the last quarter.
Shares of Ellie Mae (ELLI) traded up 0.068% during trading on Wednesday, reaching $111.015. 116,582 shares of the company were exchanged. The firm has a market capitalization of $3.78 billion and a P/E ratio of 83.975. Ellie Mae has a 1-year low of $77.60 and a 1-year high of $114.38. The firm’s 50 day moving average is $108.52 and its 200 day moving average is $96.06.
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Ellie Mae Company Profile
Ellie Mae, Inc is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. Banks, credit unions, mortgage lenders and mortgage brokers use the Company’s Encompass mortgage management solution to originate and fund mortgages. The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management.
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