Ellie Mae (NYSE:ELLI) Updates FY18 Earnings Guidance

Ellie Mae (NYSE:ELLI) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.79-1.92 for the period, compared to the Thomson Reuters consensus estimate of $1.76. The company issued revenue guidance of $495-505 million, compared to the consensus revenue estimate of $499.98 million.Ellie Mae also updated its Q3 guidance to $0.52-0.57 EPS.

A number of research firms recently weighed in on ELLI. Royal Bank of Canada increased their price target on Ellie Mae to $125.00 and gave the company an outperform rating in a research report on Monday, June 18th. JPMorgan Chase & Co. lowered Ellie Mae from an overweight rating to a neutral rating and increased their price target for the company from $112.00 to $118.00 in a research report on Thursday, June 21st. They noted that the move was a valuation call. JMP Securities increased their price target on Ellie Mae from $120.00 to $125.00 and gave the company a market outperform rating in a research report on Friday, July 27th. KeyCorp increased their price target on Ellie Mae from $130.00 to $135.00 and gave the company an overweight rating in a research report on Friday, July 27th. Finally, ValuEngine upgraded Ellie Mae from a hold rating to a buy rating in a research report on Friday, July 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Ellie Mae presently has a consensus rating of Hold and a consensus price target of $108.86.

Shares of Ellie Mae opened at $104.99 on Friday, according to MarketBeat Ratings. Ellie Mae has a one year low of $79.71 and a one year high of $116.90. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 111.44, a price-to-earnings-growth ratio of 5.89 and a beta of 0.57.

Ellie Mae (NYSE:ELLI) last announced its quarterly earnings data on Thursday, July 26th. The software maker reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.13. Ellie Mae had a return on equity of 4.50% and a net margin of 7.81%. The firm had revenue of $125.00 million during the quarter, compared to analyst estimates of $123.79 million. During the same period last year, the company posted $0.51 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. equities analysts predict that Ellie Mae will post 0.97 earnings per share for the current fiscal year.

In other news, Director Sigmund Anderman sold 15,000 shares of the firm’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $103.09, for a total transaction of $1,546,350.00. Following the completion of the sale, the director now directly owns 42,901 shares of the company’s stock, valued at approximately $4,422,664.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Lavay sold 20,320 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $107.77, for a total value of $2,189,886.40. Following the sale, the chief financial officer now directly owns 23,505 shares of the company’s stock, valued at $2,533,133.85. The disclosure for this sale can be found here. Insiders have sold a total of 45,658 shares of company stock valued at $4,825,069 over the last ninety days. Company insiders own 3.14% of the company’s stock.

About Ellie Mae

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. The company provides Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, and closing documents; loan funding and closing; compliance with regulatory and investor requirements; and enterprise management.

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Earnings History and Estimates for Ellie Mae (NYSE:ELLI)

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