Shares of Ellie Mae Inc (NASDAQ:ELLI) have received an average rating of “Buy” from the nine brokerages that are covering the company. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $110.50.

Several research firms recently issued reports on ELLI. Royal Bank Of Canada lowered Ellie Mae from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $114.00 to $90.00 in a report on Thursday. JPMorgan Chase & Co. began coverage on Ellie Mae in a report on Friday, September 9th. They set an “overweight” rating and a $118.00 target price on the stock. Pacific Crest began coverage on Ellie Mae in a report on Tuesday, September 6th. They set an “overweight” rating and a $124.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $125.00 target price on shares of Ellie Mae in a report on Sunday, August 28th. Finally, RBC Capital Markets lowered Ellie Mae from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $114.00 to $90.00 in a report on Thursday.

Shares of Ellie Mae (NASDAQ:ELLI) opened at 81.75 on Tuesday. The firm has a market cap of $2.74 billion and a price-to-earnings ratio of 82.33. The stock’s 50 day moving average price is $100.12 and its 200 day moving average price is $93.45. Ellie Mae has a one year low of $57.88 and a one year high of $109.99.

Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. The firm earned $100.38 million during the quarter, compared to the consensus estimate of $91.86 million. The business’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. On average, equities analysts anticipate that Ellie Mae will post $2.19 earnings per share for the current fiscal year.

In other news, EVP Limin Hu sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $95.63, for a total value of $478,150.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Marina Levinson sold 2,412 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $95.96, for a total value of $231,455.52. Following the completion of the transaction, the director now directly owns 5,726 shares in the company, valued at approximately $549,466.96. The disclosure for this sale can be found here.

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Ellie Mae by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,090,769 shares of the company’s stock valued at $191,619,000 after buying an additional 53,799 shares during the last quarter. Brown Capital Management LLC increased its stake in shares of Ellie Mae by 20.1% in the second quarter. Brown Capital Management LLC now owns 1,488,452 shares of the company’s stock worth $136,417,000 after buying an additional 248,684 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Ellie Mae by 904.8% in the third quarter. Wells Fargo & Company MN now owns 1,163,583 shares of the company’s stock worth $122,525,000 after buying an additional 1,047,786 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in shares of Ellie Mae by 38.5% in the second quarter. Whale Rock Capital Management LLC now owns 1,120,745 shares of the company’s stock worth $102,716,000 after buying an additional 311,350 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Ellie Mae by 12,373.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,007,822 shares of the company’s stock worth $106,124,000 after buying an additional 999,742 shares in the last quarter.

About Ellie Mae

Ellie Mae, Inc (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.

5 Day Chart for NASDAQ:ELLI

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