Ellie Mae (ELLI) Earns Buy Rating from Oppenheimer
ELLI has been the subject of several other reports. Zacks Investment Research downgraded Ellie Mae from a strong-buy rating to a hold rating in a research note on Wednesday, November 1st. Royal Bank of Canada upgraded Ellie Mae from a sector perform rating to an outperform rating and upped their price target for the stock from $90.00 to $105.00 in a research note on Wednesday, October 18th. BidaskClub upgraded Ellie Mae from a hold rating to a buy rating in a research note on Wednesday, October 18th. Compass Point started coverage on Ellie Mae in a research note on Wednesday, January 3rd. They issued a sell rating and a $65.00 price target for the company. Finally, Barclays upgraded Ellie Mae from an equal weight rating to an overweight rating and upped their price target for the stock from $100.00 to $114.00 in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Ellie Mae presently has a consensus rating of Buy and a consensus price target of $108.73.
Ellie Mae (ELLI) opened at $90.68 on Thursday. Ellie Mae has a 52 week low of $79.71 and a 52 week high of $114.95. The firm has a market capitalization of $3,131.72, a P/E ratio of 60.05, a price-to-earnings-growth ratio of 10.42 and a beta of 0.57.
Several institutional investors and hedge funds have recently modified their holdings of the company. Meritage Group LP purchased a new stake in Ellie Mae during the 3rd quarter valued at $38,834,000. Baillie Gifford & Co. raised its holdings in Ellie Mae by 51.5% during the 3rd quarter. Baillie Gifford & Co. now owns 818,296 shares of the software maker’s stock valued at $67,207,000 after buying an additional 278,321 shares during the period. Ameriprise Financial Inc. raised its holdings in Ellie Mae by 378.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock valued at $15,712,000 after buying an additional 151,347 shares during the period. Point72 Asset Management L.P. purchased a new stake in Ellie Mae during the 3rd quarter valued at $11,753,000. Finally, Tekne Capital Management LLC raised its holdings in Ellie Mae by 35.8% during the 3rd quarter. Tekne Capital Management LLC now owns 429,539 shares of the software maker’s stock valued at $35,278,000 after buying an additional 113,237 shares during the period.
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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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