Ellie Mae Inc (NASDAQ:ELLI) has earned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the company. Six equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $100.75.
Several equities research analysts have issued reports on ELLI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of Ellie Mae in a research note on Friday, February 10th. Wedbush began coverage on shares of Ellie Mae in a research report on Monday, March 13th. They issued a “neutral” rating and a $109.00 target price on the stock. Zacks Investment Research lowered shares of Ellie Mae from a “buy” rating to a “hold” rating in a research note on Monday, January 2nd. Vetr upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $97.50 target price on the stock in a research note on Tuesday, February 21st. Finally, Morgan Stanley assumed coverage on shares of Ellie Mae in a research note on Thursday, January 12th. They set an “equal weight” rating and a $95.00 target price on the stock.
In other news, insider Sigmund Anderman sold 21,823 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $93.29, for a total value of $2,035,867.67. Following the completion of the sale, the insider now directly owns 118,654 shares in the company, valued at approximately $11,069,231.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gates Cathleen Schreiner sold 1,350 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $97.18, for a total value of $131,193.00. Following the completion of the sale, the executive vice president now owns 53,946 shares of the company’s stock, valued at $5,242,472.28. The disclosure for this sale can be found here. Insiders sold a total of 156,062 shares of company stock worth $15,046,251 over the last ninety days.
Ellie Mae (NASDAQ:ELLI) traded down 0.40% on Thursday, reaching $108.32. 303,147 shares of the company traded hands. The stock’s 50-day moving average is $101.00 and its 200-day moving average is $93.25. Ellie Mae has a 1-year low of $74.11 and a 1-year high of $110.45. The stock has a market capitalization of $3.66 billion and a price-to-earnings ratio of 94.19.
Ellie Mae (NASDAQ:ELLI) last announced its earnings results on Thursday, February 9th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $96.20 million for the quarter, compared to analyst estimates of $88.73 million. During the same period last year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. Equities research analysts expect that Ellie Mae will post $1.88 EPS for the current year.
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.
