Equities analysts expect Ellie Mae Inc (NASDAQ:ELLI) to report $110.13 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for Ellie Mae’s earnings. The lowest sales estimate is $108.1 million and the highest is $112.78 million. Ellie Mae reported sales of $90.1 million in the same quarter last year, which would suggest a positive year over year growth rate of 22.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Ellie Mae will report full-year sales of $110.13 million for the current year, with estimates ranging from $436.78 million to $439.89 million. For the next year, analysts expect that the firm will post sales of $537.93 million per share, with estimates ranging from $526.44 million to $545.09 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Ellie Mae.
Ellie Mae (NASDAQ:ELLI) last released its earnings results on Thursday, April 27th. The software maker reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The business had revenue of $93 million for the quarter, compared to analysts’ expectations of $93.17 million. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share.
A number of research firms recently issued reports on ELLI. William Blair raised Ellie Mae from a “market perform” rating to an “outperform” rating in a report on Monday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price target on shares of Ellie Mae in a report on Saturday, March 11th. CIBC lifted their price target on Ellie Mae from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, March 24th. Royal Bank of Canada dropped their price objective on Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating for the company in a report on Monday, April 24th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $125.00 price objective (up from $120.00) on shares of Ellie Mae in a report on Thursday, March 23rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $105.12.
In related news, CEO Jonathan Corr sold 2,211 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $106.33, for a total value of $235,095.63. Following the completion of the transaction, the chief executive officer now directly owns 114,615 shares in the company, valued at approximately $12,187,012.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian E. Brown sold 2,196 shares of the business’s stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $98.23, for a total value of $215,713.08. Following the completion of the transaction, the executive vice president now owns 15,707 shares of the company’s stock, valued at $1,542,898.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,541 shares of company stock valued at $15,039,264.
Several institutional investors have recently modified their holdings of ELLI. Teachers Advisors LLC raised its position in shares of Ellie Mae by 1.0% in the third quarter. Teachers Advisors LLC now owns 69,880 shares of the software maker’s stock valued at $7,358,000 after buying an additional 659 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Ellie Mae by 20.2% in the third quarter. BlackRock Fund Advisors now owns 918,644 shares of the software maker’s stock valued at $96,733,000 after buying an additional 154,219 shares in the last quarter. BlackRock Inc. raised its position in shares of Ellie Mae by 506.1% in the third quarter. BlackRock Inc. now owns 15,915 shares of the software maker’s stock valued at $1,676,000 after buying an additional 13,289 shares in the last quarter. BlackRock Investment Management LLC raised its position in shares of Ellie Mae by 9.3% in the third quarter. BlackRock Investment Management LLC now owns 120,295 shares of the software maker’s stock valued at $12,667,000 after buying an additional 10,280 shares in the last quarter. Finally, BlackRock Advisors LLC raised its position in shares of Ellie Mae by 86.0% in the third quarter. BlackRock Advisors LLC now owns 72,014 shares of the software maker’s stock valued at $7,583,000 after buying an additional 33,295 shares in the last quarter.
Ellie Mae (NASDAQ:ELLI) traded up 1.91% during trading on Thursday, reaching $106.93. 234,318 shares of the company’s stock traded hands. The firm’s 50 day moving average is $103.54 and its 200-day moving average is $93.57. The company has a market capitalization of $3.64 billion and a price-to-earnings ratio of 80.89. Ellie Mae has a 12 month low of $76.63 and a 12 month high of $112.77.
Ellie Mae Company Profile
Ellie Mae, Inc is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. Banks, credit unions, mortgage lenders and mortgage brokers use the Company’s Encompass mortgage management solution to originate and fund mortgages. The Company’s Encompass software is an enterprise solution that 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.
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