The stock of Ellie Mae Inc (NYSE:ELLI) hit a new 52-week high and has $160.79 target or 53.00% above today’s $105.09 share price. The 6 months bullish chart indicates low risk for the $3.50 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $160.79 price target is reached, the company will be worth $1.86B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 217,400 shares traded hands. Ellie Mae Inc (NYSE:ELLI) has risen 21.81% since February 26, 2016 and is uptrending. It has outperformed by 11.39% the S&P500.
Analysts await Ellie Mae Inc (NYSE:ELLI) to report earnings on October, 26. They expect $0.35 EPS, up 45.83% or $0.11 from last year’s $0.24 per share. ELLI’s profit will be $11.66 million for 75.06 P/E if the $0.35 EPS becomes a reality. After $0.39 actual EPS reported by Ellie Mae Inc for the previous quarter, Wall Street now forecasts -10.26% negative EPS growth.
Ellie Mae Inc (NYSE:ELLI) Ratings Coverage
Out of 11 analysts covering Elli Mae (NYSE:ELLI), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. $125 is the highest target while $16 is the lowest. The $94.82 average target is -9.77% below today’s ($105.09) stock price. Elli Mae has been the topic of 24 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was initiated by Pacific Crest with “Overweight” on Tuesday, September 6. The stock of Ellie Mae Inc (NYSE:ELLI) has “Outperform” rating given on Wednesday, March 9 by Oppenheimer. The stock of Ellie Mae Inc (NYSE:ELLI) has “Outperform” rating given on Friday, October 23 by RBC Capital Markets. RBC Capital Markets maintained it with “Outperform” rating and $98 target price in Friday, April 29 report. The rating was maintained by RBC Capital Markets on Thursday, July 23 with “Outperform”. Barclays Capital maintained Ellie Mae Inc (NYSE:ELLI) on Thursday, October 29 with “Overweight” rating. Needham maintained the stock with “Buy” rating in Friday, July 31 report. The stock of Ellie Mae Inc (NYSE:ELLI) earned “Overweight” rating by JP Morgan on Friday, September 9. The stock has “Overweight” rating given by Barclays Capital on Friday, February 12. The stock of Ellie Mae Inc (NYSE:ELLI) has “Overweight” rating given on Friday, July 31 by Barclays Capital.
According to Zacks Investment Research, “Ellie Mae, Inc. operates electronic mortgage origination networks in the United States. The Company’s network and technology-enabled solutions help streamline and automate the mortgage origination process. Solutions offered by Ellie include Encompass software, a comprehensive operating system that handles key business and management functions involved in running a mortgage origination business, and serves as a gateway to the Ellie Mae Network. Through its solutions the Company also offers services like: automated preparation of the disclosure and closing documents; electronic document management and websites and electronic connectivity. Ellie Mae, Inc. is headquartered in Pleasanton, California.”
Insitutional Activity: The institutional sentiment decreased to 1.04 in 2016 Q2. Its down 0.03, from 1.07 in 2016Q1. The ratio fall, as 26 funds sold all Ellie Mae Inc shares owned while 69 reduced positions. 32 funds bought stakes while 67 increased positions. They now own 31.09 million shares or 5.73% more from 29.41 million shares in 2016Q1.
Daiwa Securities Gru Inc Inc accumulated 0% or 1,900 shares. Pier Cap Limited holds 0.54% of its portfolio in Ellie Mae Inc (NYSE:ELLI) for 32,214 shares. The Maryland-based Brown Advisory has invested 0% in Ellie Mae Inc (NYSE:ELLI). Picton Mahoney Asset Mgmt, a Ontario – Canada-based fund reported 153,600 shares. Invesco Limited holds 118,702 shares or 0% of its portfolio. Df Dent And Inc reported 51,717 shares or 0.13% of all its holdings. Arcadia Invest Mgmt Mi holds 0.01% of its portfolio in Ellie Mae Inc (NYSE:ELLI) for 414 shares. Moreover, Mackenzie Financial Corporation has 0% invested in Ellie Mae Inc (NYSE:ELLI) for 8,302 shares. Zacks Invest Mgmt last reported 8,104 shares in the company. Van Berkom & last reported 2.18% of its portfolio in the stock. Moreover, Zevenbergen Capital Investments Llc has 2.32% invested in Ellie Mae Inc (NYSE:ELLI) for 539,600 shares. Lpl Financial Ltd Limited Liability Company holds 6,153 shares or 0% of its portfolio. Blackrock Japan Limited owns 379 shares or 0% of their US portfolio. First Republic Invest Mngmt last reported 3,140 shares in the company. Moreover, Voya Inv Mngmt Ltd Co has 0% invested in Ellie Mae Inc (NYSE:ELLI) for 12,816 shares.
Insider Transactions: Since April 1, 2016, the stock had 0 insider purchases, and 25 selling transactions for $18.78 million net activity. 3,500 shares were sold by Corr Jonathan, worth $345,930. DOLAN A BARR also sold $235,238 worth of Ellie Mae Inc (NYSE:ELLI) on Thursday, May 19. SCHREINER GATES CATHLEEN sold $62,293 worth of Ellie Mae Inc (NYSE:ELLI) on Monday, August 1. Shares for $5.32M were sold by Anderman Sigmund. Luce Edgar had sold 5,000 shares worth $423,460. TYRRELL JOSEPH P. also sold $239,367 worth of Ellie Mae Inc (NYSE:ELLI) shares. BROWN BRIAN E. had sold 355 shares worth $29,110.
More recent Ellie Mae Inc (NYSE:ELLI) news were published by: Fool.com which released: “Small Cap Low-Risk Pick No. 3: Ellie Mae Inc.” on April 08, 2016. Also Businesswire.com published the news titled: “Ellie Mae, Inc. Announces Pricing of Follow-on Offering of Common Stock” on August 01, 2016. Profitconfidential.com‘s news article titled: “Ellie Mae Inc: Housing Recovery Could Be Big Boost for ELLI Stock” with publication date: July 30, 2016 was also an interesting one.
ELLI Company Profile
Ellie Mae, Inc. (Ellie Mae), incorporated on October 14, 2009, is a well-known provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.
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