Ellie Mae Inc (NASDAQ:ELLI) – Research analysts at William Blair decreased their FY2016 earnings estimates for Ellie Mae in a note issued to investors on Tuesday. William Blair analyst B. Dobell now forecasts that the brokerage will post earnings of $1.09 per share for the year, down from their prior estimate of $1.15. William Blair also issued estimates for Ellie Mae’s FY2017 earnings at $1.40 EPS.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Ellie Mae from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Barclays PLC boosted their price target on shares of Ellie Mae from $97.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Pacific Crest began coverage on shares of Ellie Mae in a report on Tuesday, September 6th. They issued an “overweight” rating and a $124.00 price target for the company. Needham & Company LLC boosted their price target on shares of Ellie Mae from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, JMP Securities boosted their price target on shares of Ellie Mae from $94.00 to $107.00 and gave the company a “market outperform” rating in a report on Friday, July 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $113.86.
Shares of Ellie Mae (NASDAQ:ELLI) traded up 0.35% during mid-day trading on Friday, hitting $100.09. The company had a trading volume of 176,395 shares. Ellie Mae has a one year low of $57.88 and a one year high of $105.98. The company has a market capitalization of $3.02 billion and a P/E ratio of 129.99. The firm’s 50-day moving average price is $98.95 and its 200 day moving average price is $91.56.
Ellie Mae (NASDAQ:ELLI) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.09. The firm had revenue of $90.10 million for the quarter, compared to analysts’ expectations of $85.54 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. Ellie Mae’s revenue was up 36.7% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Ellie Mae during the second quarter worth approximately $104,000. Daiwa Securities Group Inc. acquired a new position in Ellie Mae during the second quarter worth approximately $174,000. Bank of Montreal Can acquired a new position in Ellie Mae during the second quarter worth approximately $177,000. Eagle Boston Investment Management Inc. acquired a new position in Ellie Mae during the third quarter worth approximately $204,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Ellie Mae during the second quarter worth approximately $206,000.
In other news, insider Sigmund Anderman sold 55,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $96.81, for a total transaction of $5,324,550.00. Following the completion of the transaction, the insider now directly owns 157,874 shares in the company, valued at approximately $15,283,781.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gates Cathleen Schreiner sold 675 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $92.29, for a total transaction of $62,295.75. Following the transaction, the executive vice president now owns 26,369 shares of the company’s stock, valued at $2,433,595.01. The disclosure for this sale can be found here.
Ellie Mae Company Profile