Ellie Mae Inc (ELLI) Releases Earnings Results, Beats Expectations By $0.03 EPS

Ellie Mae Inc (ELLI) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.31. The company posted revenue of $73.60 million in the period, 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.

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 .

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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