Wall Street analysts expect Ellie Mae Inc (NASDAQ:ELLI) to post sales of $110.13 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Ellie Mae’s earnings, with the lowest sales estimate coming in at $108.10 million and the highest estimate coming in at $112.78 million. Ellie Mae reported sales of $90.10 million during the same quarter last year, which indicates a positive year over year growth rate of 22.2%. The firm is scheduled to announce its next earnings results on Thursday, July 27th.
On average, 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 fiscal year, analysts anticipate that the firm will report sales of $537.93 million per share, with estimates ranging from $526.44 million to $545.09 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Ellie Mae.
Ellie Mae (NASDAQ:ELLI) last issued its quarterly earnings results on Thursday, April 27th. The software maker reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The company had revenue of $93 million for the quarter, compared to analyst estimates of $93.17 million. The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS.
A number of analysts have recently commented on ELLI shares. Zacks Investment Research raised Ellie Mae from a “sell” rating to a “hold” rating and set a $116.00 price target on the stock in a research note on Tuesday, April 11th. CIBC lifted their price objective on Ellie Mae from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, March 24th. Pacific Crest reaffirmed an “overweight” rating and issued a $130.00 price objective (up from $110.00) on shares of Ellie Mae in a research note on Sunday, April 23rd. Wedbush initiated coverage on Ellie Mae in a research note on Monday, March 13th. They issued a “neutral” rating and a $109.00 price objective on the stock. Finally, Vetr raised Ellie Mae from a “hold” rating to a “buy” rating and set a $97.50 price objective on the stock in a research note on Tuesday, February 21st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $115.04.
In related news, CEO Jonathan Corr sold 6,875 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $97.69, for a total transaction of $671,618.75. Following the completion of the sale, the chief executive officer now owns 132,760 shares in the company, valued at $12,969,324.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian E. Brown sold 2,196 shares of the company’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $98.23, for a total value of $215,713.08. Following the sale, the executive vice president now owns 15,707 shares of the company’s stock, valued at approximately $1,542,898.61. The disclosure for this sale can be found here. Insiders have sold 50,375 shares of company stock valued at $5,111,098 in the last quarter.
A number of hedge funds and other institutional investors have recently bought and sold shares of ELLI. Jane Street Group LLC acquired a new position in Ellie Mae during the first quarter valued at $214,000. Banco BTG Pactual S.A. acquired a new position in Ellie Mae during the first quarter valued at $221,000. United Capital Financial Advisers LLC acquired a new position in Ellie Mae during the first quarter valued at $231,000. First Allied Advisory Services Inc. acquired a new position in Ellie Mae during the fourth quarter valued at $245,000. Finally, Creative Planning boosted its position in Ellie Mae by 31.0% in the first quarter. Creative Planning now owns 2,989 shares of the software maker’s stock valued at $300,000 after buying an additional 707 shares in the last quarter.
Ellie Mae (NASDAQ:ELLI) traded down 0.46% on Wednesday, reaching $111.23. 293,345 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $108.60 and its 200 day moving average is $96.47. Ellie Mae has a 52 week low of $77.60 and a 52 week high of $114.38. The company has a market cap of $3.79 billion and a price-to-earnings ratio of 84.14.
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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