Ellie Mae Inc (ELLI) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 98

Ellie Mae Inc (ELLI) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 98 from a previous price target of $92 . RBC Capital Mkts advised their investors in a research report released on Apr 29, 2016.

Many Wall Street Analysts have commented on Ellie Mae Inc. Company shares were Reiterated by FBR Capital on Apr 29, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 85 from a previous price target of $75 .Company shares were Reiterated by Needham on Mar 4, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $88 .Shares were Reiterated by FBR Capital on Feb 12, 2016 to “Mkt Perform” and Lowered the Price Target to $ 75 from a previous price target of $80 .

On the company’s financial health, Ellie Mae Inc reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.31. The company had revenue of $73.60 million for the quarter, compared to analysts expectations of $68.96 million. The company’s revenue was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Ellie Mae Inc opened for trading at $92.21 and hit $93 on the upside on Wednesday, eventually ending the session at $91.77, with a gain of 0.09% or 0.08 points. The heightened volatility saw the trading volume jump to 3,82,021 shares. Company has a market cap of $2,722 M.

In a different news, on Apr 7, 2016, Jonathan Corr (President & CEO) sold 3,500 shares at $88.30 per share price. According to the SEC, on Apr 5, 2016, Edgar Luce (Chief Financial Officer) sold 5,000 shares at $90.06 per share price. On Mar 30, 2016, Joseph P. Tyrrell (EVP, Corporate Strategy) sold 2,580 shares at $85.35 per share price, according to the Form-4 filing with the securities and exchange commission.

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 mortgage management solution provides one system of record that allows banks credit unions and mortgage lenders to originate and fund mortgages. The Encompass mortgage management solution 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 that provides one system of record. The Company delivers Encompass software in an on-demand Software-as-a-Service (SaaS). The Company also hosts the Ellie Mae Network.

Ellie Mae Inc

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