Ellie Mae Inc (ELLI) Expected to Post Earnings of $0.54 Per Share

Analysts forecast that Ellie Mae Inc (NYSE:ELLI) will report $0.54 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have issued estimates for Ellie Mae’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.56. Ellie Mae posted earnings of $0.53 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, October 25th.

On average, analysts expect that Ellie Mae will report full year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.84 to $1.92. For the next fiscal year, analysts forecast that the firm will post earnings of $2.42 per share, with EPS estimates ranging from $2.10 to $2.65. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Ellie Mae.

Ellie Mae (NYSE:ELLI) last released its quarterly earnings results on Thursday, July 26th. The software maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Ellie Mae had a net margin of 7.81% and a return on equity of 4.50%. The firm had revenue of $125.00 million during the quarter, compared to analysts’ expectations of $123.79 million. During the same period in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year.

ELLI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Ellie Mae from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $112.00 to $118.00 in a research note on Thursday, June 21st. They noted that the move was a valuation call. KeyCorp lifted their price target on shares of Ellie Mae from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Morgan Stanley lifted their price target on shares of Ellie Mae from $109.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Friday, July 27th. Roth Capital raised shares of Ellie Mae from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of Ellie Mae to $125.00 and gave the stock an “outperform” rating in a research note on Monday, June 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Ellie Mae presently has an average rating of “Hold” and an average target price of $107.71.

In other Ellie Mae news, Director Sigmund Anderman sold 15,000 shares of the business’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $103.09, for a total value of $1,546,350.00. Following the completion of the sale, the director now directly owns 42,901 shares of the company’s stock, valued at approximately $4,422,664.09. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director A Barr Dolan sold 3,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $104.57, for a total transaction of $313,710.00. Following the completion of the sale, the director now directly owns 9,212 shares of the company’s stock, valued at $963,298.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,675 shares of company stock valued at $3,664,772. 3.14% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ELLI. Asset Management One Co. Ltd. lifted its position in shares of Ellie Mae by 36.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,581 shares of the software maker’s stock worth $237,000 after purchasing an additional 689 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Ellie Mae in the 1st quarter worth approximately $242,000. Cubist Systematic Strategies LLC lifted its position in shares of Ellie Mae by 129.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 2,643 shares of the software maker’s stock worth $243,000 after purchasing an additional 1,493 shares during the period. Alps Advisors Inc. purchased a new stake in shares of Ellie Mae in the 2nd quarter worth approximately $286,000. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Ellie Mae by 41.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 4,751 shares of the software maker’s stock worth $437,000 after purchasing an additional 1,400 shares during the period.

Shares of ELLI stock traded up $2.39 during trading hours on Friday, reaching $85.74. 1,099,459 shares of the stock were exchanged, compared to its average volume of 495,404. Ellie Mae has a 12-month low of $82.03 and a 12-month high of $116.90. The stock has a market cap of $3.28 billion, a PE ratio of 83.24, a P/E/G ratio of 5.27 and a beta of 0.77.

About Ellie Mae

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.

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