KeyCorp Increases Ellie Mae (ELLI) Price Target to $120.00

Ellie Mae (NYSE:ELLI) had its target price lifted by research analysts at KeyCorp from $118.00 to $120.00 in a research report issued to clients and investors on Monday, February 5th. The brokerage currently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective indicates a potential upside of 36.21% from the company’s previous close. KeyCorp also issued estimates for Ellie Mae’s Q4 2017 earnings at $0.09 EPS, FY2017 earnings at $0.92 EPS, Q1 2018 earnings at ($0.04) EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.21 EPS, FY2018 earnings at $0.65 EPS and FY2019 earnings at $1.30 EPS.

ELLI has been the subject of several other research reports. Zacks Investment Research cut shares of Ellie Mae from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Royal Bank of Canada upgraded shares of Ellie Mae from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $90.00 to $105.00 in a research report on Wednesday, October 18th. BidaskClub upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Barclays upgraded shares of Ellie Mae from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $100.00 to $114.00 in a research report on Tuesday, January 9th. Finally, Compass Point assumed coverage on shares of Ellie Mae in a research report on Wednesday, January 3rd. They issued a “sell” rating and a $65.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Ellie Mae presently has an average rating of “Buy” and a consensus price target of $105.89.

Shares of Ellie Mae (ELLI) traded up $1.60 during trading hours on Monday, hitting $88.10. 163,744 shares of the company were exchanged, compared to its average volume of 430,840. Ellie Mae has a twelve month low of $79.71 and a twelve month high of $114.95. The company has a market cap of $3,098.63, a P/E ratio of 59.53, a PEG ratio of 8.27 and a beta of 0.57.

Ellie Mae (NYSE:ELLI) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Ellie Mae had a net margin of 12.67% and a return on equity of 5.43%. The business had revenue of $112.89 million during the quarter, compared to the consensus estimate of $108.27 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. analysts anticipate that Ellie Mae will post 0.73 earnings per share for the current year.

In related news, insider Sigmund Anderman sold 18,726 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $88.80, for a total transaction of $1,662,868.80. Following the completion of the sale, the insider now directly owns 81,087 shares of the company’s stock, valued at $7,200,525.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gates Cathleen Schreiner sold 1,900 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $86.01, for a total transaction of $163,419.00. Following the sale, the executive vice president now directly owns 43,149 shares of the company’s stock, valued at $3,711,245.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,721 shares of company stock valued at $5,402,858. Company insiders own 3.39% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ELLI. Meritage Group LP acquired a new stake in Ellie Mae during the third quarter valued at approximately $38,834,000. Carillon Tower Advisers Inc. acquired a new stake in Ellie Mae during the fourth quarter valued at approximately $32,241,000. Baillie Gifford & Co. lifted its stake in Ellie Mae by 51.5% during the third quarter. Baillie Gifford & Co. now owns 818,296 shares of the software maker’s stock valued at $67,207,000 after purchasing an additional 278,321 shares during the last quarter. HMI Capital LLC acquired a new stake in Ellie Mae during the fourth quarter valued at approximately $21,009,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Ellie Mae by 378.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock valued at $15,712,000 after acquiring an additional 151,347 shares in the last quarter.

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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.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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