Ellie Mae Inc (ELLI) is Reiterated by Needham to Buy, Raises Price Target to $ 125

Ellie Mae Inc (ELLI) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 125 from a previous price target of $110 . Needham advised their investors in a research report released on Jul 29, 2016.

Many Wall Street Analysts have commented on Ellie Mae Inc. Company shares were Reiterated by Barclays on Jul 29, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 110 from a previous price target of $97 .

On the company’s financial health, Ellie Mae Inc reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.55. The company had revenue of $90.10 million for the quarter, compared to analysts expectations of $86.10 million. The company’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Ellie Mae Inc opened for trading at $98.11 and hit $99.18 on the upside on Thursday, eventually ending the session at $98.47, with a gain of 0.62% or 0.61 points. The heightened volatility saw the trading volume jump to 5,46,216 shares. Company has a market cap of $2,953 M.

In a different news, on Jul 7, 2016, Jonathan Corr (President & CEO) sold 3,500 shares at $91.13 per share price. According to the SEC, on Jul 5, 2016, Edgar Luce (Chief Financial Officer) sold 5,000 shares at $92.27 per share price. On Jun 21, 2016, Marina Levinson (director) sold 1,588 shares at $86.06 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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