The stock of Ellie Mae Inc (NYSE:ELLI) reached all time high today, Sep, 30 and still has $134.05 target or 27.00% above today’s $105.55 share price. This indicates more upside for the $3.52 billion company. This technical setup was reported by Barchart.com. If the $134.05 PT is reached, the company will be worth $950.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 372,449 shares traded hands or 9.35% up from the average. 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 earnings per share, up 45.83% or $0.11 from last year’s $0.24 per share. ELLI’s profit will be $11.67M for 75.39 P/E if the $0.35 EPS becomes a reality. After $0.39 actual earnings per share 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. Elli Mae has been the topic of 24 analyst reports since July 23, 2015 according to StockzIntelligence Inc. As per Thursday, July 23, the company rating was maintained by RBC Capital Markets. The company was maintained on Thursday, October 29 by Oppenheimer. The rating was upgraded by Stephens to “Overweight” on Wednesday, January 6. TH Capital maintained the shares of ELLI in a report on Friday, July 31 with “Buy” rating. The firm has “Mkt Perform” rating given on Friday, February 12 by FBR Capital. The company was maintained on Friday, July 31 by Oppenheimer. The firm earned “Outperform” rating on Friday, October 23 by RBC Capital Markets. The stock of Ellie Mae Inc (NYSE:ELLI) has “Mkt Perform” rating given on Friday, April 29 by FBR Capital. JP Morgan initiated Ellie Mae Inc (NYSE:ELLI) rating on Friday, September 9. JP Morgan has “Overweight” rating and $118 price target. The company was maintained on Friday, July 31 by FBR 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 Q2 2016. Its down 0.03, from 1.07 in 2016Q1. The ratio turned negative, 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.
Mitsubishi Ufj Trust And Bk holds 0.05% of its portfolio in Ellie Mae Inc (NYSE:ELLI) for 262,730 shares. Great West Life Assurance Co Can accumulated 3,012 shares or 0% of the stock. State Street accumulated 493,454 shares or 0% of the stock. Ranger L P has invested 3.06% of its portfolio in Ellie Mae Inc (NYSE:ELLI). Swiss Commercial Bank has invested 0.01% of its portfolio in Ellie Mae Inc (NYSE:ELLI). Blackrock Inc accumulated 0% or 2,626 shares. Da Davidson And Com holds 0.01% of its portfolio in Ellie Mae Inc (NYSE:ELLI) for 2,259 shares. Waddell And Reed accumulated 597,189 shares or 0.12% of the stock. The Virginia-based Quantitative Management Ltd Com has invested 0.04% in Ellie Mae Inc (NYSE:ELLI). Dimensional Fund Advsr L P last reported 332,323 shares in the company. Hollencrest Secs Ltd Liability reported 5,800 shares or 0.08% of all its holdings. Yorktown & Com reported 3,500 shares or 0.07% of all its holdings. Moreover, Deutsche Bancorp Ag has 0% invested in Ellie Mae Inc (NYSE:ELLI) for 15,852 shares. Redwood Ltd Llc has 52,333 shares for 0.44% of their US portfolio. Vanguard Group Incorporated owns 2.09M shares or 0.01% of their US portfolio.
Insider Transactions: Since April 1, 2016, the stock had 0 insider purchases, and 25 sales for $18.78 million net activity. Luce Edgar had sold 5,000 shares worth $450,315 on Friday, April 1. 3,500 shares with value of $318,952 were sold by Corr Jonathan on Wednesday, July 6. 5,000 Ellie Mae Inc (NYSE:ELLI) shares with value of $476,064 were sold by HU LIMIN. HIRSCH PETER also sold $177,103 worth of Ellie Mae Inc (NYSE:ELLI) on Tuesday, August 16. SCHREINER GATES CATHLEEN sold $62,293 worth of Ellie Mae Inc (NYSE:ELLI) on Monday, August 1. Levinson Marina sold $231,456 worth of Ellie Mae Inc (NYSE:ELLI) on Tuesday, August 23. $239,367 worth of shares were sold by TYRRELL JOSEPH P. on Tuesday, May 17.
More important 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 article titled: “Ellie Mae, Inc. Announces Pricing of Follow-on Offering of Common Stock”, Profitconfidential.com published: “Ellie Mae Inc: Housing Recovery Could Be Big Boost for ELLI Stock” on July 30, 2016. More interesting news about Ellie Mae Inc (NYSE:ELLI) was released by: Seekingalpha.com and their article: “5 Reasons To Buy Ellie Mae” with publication date: August 01, 2016.
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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