Ellie Mae (ELLI) : Analyst Rating Update

Ellie Mae (ELLI) : 2 brokerage houses believe that Ellie Mae (ELLI) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Ellie Mae (ELLI). Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 6 Wall Street Analysts endorse the stock as a Buy with a rating of 2.

Ellie Mae (ELLI) : The highest short term price target forecast on Ellie Mae (ELLI) is $105 and the lowest target price is $97. A total of 5 equity analysts are currently covering the company. The average price of all the analysts is $100 with a standard deviation of $3.08.

Ellie Mae (NYSE:ELLI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $90.89 and $90.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $97.12. The buying momentum continued till the end and the stock did not give up its gains. It closed at $94.16, notching a gain of 2.48% for the day. The total traded volume was 1,134,084 . The stock had closed at $91.88 on the previous day.

Also, Stephens & Co. downgrades its view on Ellie Mae (NYSE:ELLI) according to the research report released by the firm to its investors. The shares have now been rated Equal-weight by the stock experts at the ratings house. Earlier, the shares had a rating of Overweight. The rating by the firm was issued on April 29, 2016. The company shares have rallied 31.88% from its 1 Year high price. On Apr 28, 2016, the shares registered one year high at $94.20 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $85.01 and the 200 Day Moving Average price is recorded at $79.18.

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 Companys 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.

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