Ellie Mae (ELLI) : Traders are bullish on Ellie Mae (ELLI) as it has outperformed the S&P 500 by a wide margin of 0.62% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.42%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.87% in the last 1 week, and is up 3.12% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Ellie Mae (NYSE:ELLI): The stock opened at $98.09 on Friday but the bulls could not build on the opening and the stock topped out at $98.48 for the day. The stock traded down to $97.14 during the day, due to lack of any buying support eventually closed down at $97.52 with a loss of -0.99% for the day. The stock had closed at $98.50 on the previous day. The total traded volume was 482,649 shares.
The stock has recorded a 20-day Moving Average of 1.36% and the 50-Day Moving Average is 7.86%. Ellie Mae, Inc. is up 27.56% in the last 3-month period. Year-to-Date the stock performance stands at 61.91%.
Ellie Mae (ELLI) : The highest level Ellie Mae (ELLI) is projected to reach is $131 for the short term and the lowest estimate is at $98. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $113.5 and the possibility the share price can swing is $12.21.
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.