Ellie Mae (ELLI) Shares are Up 5.66%

Ellie Mae (ELLI) : Traders are bullish on Ellie Mae (ELLI) as it has outperformed the S&P 500 by a wide margin of 7.15% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.48%, 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 5.66% in the last 1 week, and is up 6.58% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 7.72% and the 50-Day Moving Average is 8.38%.The 200 Day SMA reached 24.96%


Ellie Mae (NYSE:ELLI): After opening at $103.95, the stock dipped to an intraday low of $102.51 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $105.98 and the buying power remained strong till the end. The stock closed at $105.3 for the day, a gain of 1.86% for the day session. The total traded volume was 939,222. The stocks close on the previous trading day was $105.3.

Ellie Mae (ELLI) : The consensus price target for Ellie Mae (ELLI) is $115.38 for the short term with a standard deviation of $11.01. The most optimist securities analyst among the 8 who monitor the stock believes that the stock can reach $131, however, the pessimist price target for the company is $98.

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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