Analysts Set Ellie Mae (ELLI) PT at $106.22

Shares of Ellie Mae (NYSE:ELLI) have been assigned an average rating of “Buy” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $106.22.

Several equities research analysts have recently issued reports on the stock. KeyCorp restated a “buy” rating and issued a $120.00 target price on shares of Ellie Mae in a report on Wednesday, March 21st. Royal Bank of Canada restated an “outperform” rating and issued a $106.00 target price on shares of Ellie Mae in a report on Wednesday, February 14th. Zacks Investment Research lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Stephens restated a “hold” rating and issued a $92.00 target price on shares of Ellie Mae in a report on Friday, February 9th. Finally, Bank of America lowered their target price on shares of Ellie Mae from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, February 9th.

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Shares of Ellie Mae stock traded down $1.63 during trading on Thursday, hitting $92.82. The stock had a trading volume of 400,530 shares, compared to its average volume of 418,867. The firm has a market capitalization of $3,182.80, a PE ratio of 90.12, a price-to-earnings-growth ratio of 7.89 and a beta of 0.53. Ellie Mae has a 12 month low of $79.71 and a 12 month high of $114.95.

Ellie Mae (NYSE:ELLI) last released its earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The firm had revenue of $112.89 million during the quarter, compared to analyst estimates of $108.27 million. Ellie Mae had a net margin of 12.67% and a return on equity of 5.39%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. equities analysts forecast that Ellie Mae will post 0.78 EPS for the current year.

In other Ellie Mae news, CEO Jonathan Corr sold 1,132 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $86.89, for a total transaction of $98,359.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian E. Brown sold 465 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $91.95, for a total transaction of $42,756.75. Following the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $1,628,250.60. The disclosure for this sale can be found here. Insiders sold a total of 72,269 shares of company stock worth $6,660,105 in the last ninety days. 3.39% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ELLI. Carillon Tower Advisers Inc. purchased a new position in Ellie Mae during the 4th quarter valued at about $32,241,000. Brown Capital Management LLC increased its position in Ellie Mae by 11.9% during the 4th quarter. Brown Capital Management LLC now owns 2,775,314 shares of the software maker’s stock valued at $248,113,000 after purchasing an additional 295,702 shares during the period. HMI Capital LLC purchased a new position in Ellie Mae during the 4th quarter valued at about $21,009,000. Calamos Advisors LLC purchased a new position in Ellie Mae during the 4th quarter valued at about $17,989,000. Finally, Ameriprise Financial Inc. increased its position in Ellie Mae by 378.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock valued at $15,712,000 after purchasing an additional 151,347 shares during the period.

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Ellie Mae Company Profile

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.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

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