Shares of Ellie Mae Inc (NYSE:ELLI) have earned an average recommendation of “Buy” from the nineteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $107.29.
A number of research firms recently commented on ELLI. Zacks Investment Research lowered 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 reaffirmed an “outperform” rating and set a $106.00 price target on shares of Ellie Mae in a research report on Wednesday, February 14th. Barclays raised shares of Ellie Mae from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $114.00 in a research report on Tuesday, January 9th. Compass Point began coverage on shares of Ellie Mae in a research report on Wednesday, January 3rd. They set a “sell” rating and a $65.00 price target on the stock. Finally, Bank of America lowered their price target on shares of Ellie Mae from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, February 9th.
Ellie Mae (ELLI) traded up $1.03 during midday trading on Wednesday, hitting $90.79. 477,400 shares of the stock were exchanged, compared to its average volume of 446,564. The firm has a market cap of $3,107.53, a PE ratio of 83.29, a PEG ratio of 7.72 and a beta of 0.57. Ellie Mae has a one year low of $79.71 and a one year high of $114.95.
Ellie Mae (NYSE:ELLI) last posted its earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $112.89 million during the quarter, compared to analysts’ expectations of $108.27 million. Ellie Mae had a net margin of 12.67% and a return on equity of 5.43%. Ellie Mae’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. equities research analysts forecast that Ellie Mae will post 0.78 EPS for the current fiscal year.
In other Ellie Mae news, Director Karen Blasing sold 1,728 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $100.00, for a total value of $172,800.00. Following the transaction, the director now directly owns 7,275 shares of the company’s stock, valued at approximately $727,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gates Cathleen Schreiner sold 1,900 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $86.01, for a total transaction of $163,419.00. Following the completion of the transaction, the executive vice president now directly owns 43,149 shares in the company, valued at $3,711,245.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,333 shares of company stock worth $4,051,508. Insiders own 3.39% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC bought a new stake in shares of Ellie Mae during the 4th quarter valued at approximately $1,406,000. Jane Street Group LLC bought a new stake in shares of Ellie Mae during the 4th quarter valued at approximately $473,000. LPL Financial LLC grew its holdings in shares of Ellie Mae by 22.4% during the 4th quarter. LPL Financial LLC now owns 6,878 shares of the software maker’s stock valued at $615,000 after purchasing an additional 1,258 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Ellie Mae during the 4th quarter valued at approximately $531,000. Finally, Raymond James & Associates grew its holdings in shares of Ellie Mae by 4.4% during the 4th quarter. Raymond James & Associates now owns 22,816 shares of the software maker’s stock valued at $2,040,000 after purchasing an additional 965 shares during the last quarter.
COPYRIGHT VIOLATION WARNING: This article was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/19/ellie-mae-inc-elli-given-average-rating-of-buy-by-analysts.html.
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.
Receive News & Ratings for Ellie Mae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellie Mae and related companies with MarketBeat.com's FREE daily email newsletter.