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.
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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