Analysts Expect Ellie Mae Inc (NASDAQ:ELLI) Will Post Quarterly Sales of $110.13 Million
Analysts expect that Ellie Mae Inc (NASDAQ:ELLI) will report $110.13 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Ellie Mae’s earnings. The lowest sales estimate is $108.10 million and the highest is $112.78 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 business is scheduled to announce its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Ellie Mae will report full-year sales of $110.13 million for the current fiscal year, with estimates ranging from $436.78 million to $439.89 million. For the next financial year, analysts forecast that the firm will post sales of $537.93 million per share, with estimates ranging from $526.44 million to $545.09 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Ellie Mae.
Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings data on Thursday, April 27th. The software maker reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.03. Ellie Mae had a net margin of 10.32% and a return on equity of 5.72%. The company had revenue of $93 million for the quarter, compared to the consensus estimate of $93.17 million. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis.
Several research firms have weighed in on ELLI. William Blair raised shares of Ellie Mae from a “market perform” rating to an “outperform” rating in a research report on Monday, April 3rd. KeyCorp restated a “buy” rating and set a $130.00 price objective on shares of Ellie Mae in a research note on Wednesday, June 14th. Bank of America Corporation started coverage on shares of Ellie Mae in a research note on Monday, May 15th. They set a “buy” rating and a $130.00 price objective for the company. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada decreased their price objective on shares of Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $115.54.
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In related news, CEO Jonathan Corr sold 2,210 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $112.41, for a total value of $248,426.10. Following the completion of the sale, the chief executive officer now owns 116,002 shares of the company’s stock, valued at approximately $13,039,784.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gates Cathleen Schreiner sold 4,245 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $107.90, for a total transaction of $458,035.50. Following the completion of the sale, the executive vice president now directly owns 47,849 shares of the company’s stock, valued at approximately $5,162,907.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,986 shares of company stock valued at $6,092,578.
Large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Ellie Mae by 3.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 18,208 shares of the software maker’s stock valued at $1,524,000 after buying an additional 630 shares during the last quarter. State Street Corp raised its stake in shares of Ellie Mae by 1.3% in the fourth quarter. State Street Corp now owns 613,219 shares of the software maker’s stock valued at $51,316,000 after buying an additional 8,041 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Ellie Mae by 22.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,937 shares of the software maker’s stock valued at $834,000 after buying an additional 1,792 shares during the last quarter. Tudor Investment Corp Et Al bought a new stake in shares of Ellie Mae during the fourth quarter valued at approximately $351,000. Finally, Guggenheim Capital LLC raised its stake in shares of Ellie Mae by 14.3% in the fourth quarter. Guggenheim Capital LLC now owns 4,157 shares of the software maker’s stock valued at $348,000 after buying an additional 519 shares during the last quarter.
Ellie Mae (NASDAQ ELLI) traded up 1.22% on Friday, reaching $108.07. 340,342 shares of the company’s stock traded hands. Ellie Mae has a 12-month low of $77.60 and a 12-month high of $114.38. The stock has a market cap of $3.68 billion and a price-to-earnings ratio of 81.75. The stock has a 50 day moving average price of $110.20 and a 200 day moving average price of $98.30.
About Ellie Mae
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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