Ellie Mae (ELLI) Earning Somewhat Favorable Media Coverage, Study Shows
Press coverage about Ellie Mae (NASDAQ:ELLI) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ellie Mae earned a news impact score of 0.20 on Accern’s scale. Accern also assigned news articles about the software maker an impact score of 45.8855070693624 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Monday, July 3rd. KeyCorp reaffirmed a “buy” rating and set a $116.00 price objective on shares of Ellie Mae in a research report on Wednesday. BidaskClub cut shares of Ellie Mae from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. ValuEngine cut shares of Ellie Mae from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Ellie Mae in a research report on Monday, August 14th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $112.95.
Shares of Ellie Mae (NASDAQ:ELLI) opened at 83.89 on Thursday. Ellie Mae has a 12-month low of $77.60 and a 12-month high of $114.95. The stock’s 50 day moving average price is $83.52 and its 200-day moving average price is $99.54. The firm has a market cap of $2.88 billion and a P/E ratio of 55.63.
Ellie Mae (NASDAQ:ELLI) last posted its quarterly earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.16. The company had revenue of $104.10 million during the quarter, compared to the consensus estimate of $110.69 million. Ellie Mae had a return on equity of 10.74% and a net margin of 18.08%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts predict that Ellie Mae will post $1.49 earnings per share for the current fiscal year.
Ellie Mae declared that its board has authorized a stock repurchase program on Tuesday, September 5th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the software maker to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, CEO Jonathan Corr sold 2,210 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $83.71, for a total transaction of $184,999.10. Following the completion of the transaction, the chief executive officer now owns 116,002 shares in the company, valued at approximately $9,710,527.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gates Cathleen Schreiner sold 1,200 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $84.58, for a total value of $101,496.00. Following the transaction, the executive vice president now owns 45,049 shares of the company’s stock, valued at approximately $3,810,244.42. The disclosure for this sale can be found here. Insiders have sold a total of 19,927 shares of company stock valued at $1,909,124 in the last quarter.
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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.
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