Ellie Mae Inc (ELLI) Expected to Announce Quarterly Sales of $120.57 Million

Equities analysts predict that Ellie Mae Inc (NYSE:ELLI) will report $120.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Ellie Mae’s earnings. The highest sales estimate is $123.81 million and the lowest is $113.88 million. Ellie Mae reported sales of $117.91 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The business is expected to announce its next quarterly earnings results on Thursday, April 25th.

On average, analysts expect that Ellie Mae will report full year sales of $510.82 million for the current year, with estimates ranging from $496.20 million to $529.00 million. For the next fiscal year, analysts forecast that the business will report sales of $561.91 million, with estimates ranging from $513.60 million to $603.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Ellie Mae.

Ellie Mae (NYSE:ELLI) last posted its earnings results on Thursday, February 14th. The software maker reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.04). The business had revenue of $116.05 million for the quarter, compared to analyst estimates of $113.97 million. Ellie Mae had a net margin of 5.02% and a return on equity of 4.17%.

ELLI has been the topic of several recent research reports. JMP Securities restated a “buy” rating and set a $99.00 target price on shares of Ellie Mae in a report on Monday, February 11th. Zacks Investment Research lowered shares of Ellie Mae from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. William Blair lowered shares of Ellie Mae from an “outperform” rating to a “market perform” rating in a report on Thursday, February 14th. Finally, Susquehanna Bancshares upgraded shares of Ellie Mae from a “negative” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $99.00 in a report on Wednesday, February 13th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Ellie Mae presently has an average rating of “Hold” and a consensus price target of $86.43.

Shares of NYSE:ELLI traded up $0.09 during midday trading on Tuesday, hitting $98.69. 1,312,863 shares of the company’s stock traded hands, compared to its average volume of 916,633. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 95.82, a PEG ratio of 7.02 and a beta of 1.41. Ellie Mae has a twelve month low of $58.49 and a twelve month high of $116.90.

In other news, EVP Brian E. Brown sold 700 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $99.51, for a total value of $69,657.00. Following the completion of the sale, the executive vice president now owns 39,242 shares of the company’s stock, valued at approximately $3,904,971.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Corr sold 12,515 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $98.92, for a total transaction of $1,237,983.80. Following the completion of the sale, the chief executive officer now directly owns 136,289 shares of the company’s stock, valued at approximately $13,481,707.88. The disclosure for this sale can be found here. Insiders sold a total of 102,018 shares of company stock worth $8,459,624 in the last quarter. 3.14% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Interstate Bank bought a new stake in shares of Ellie Mae in the 4th quarter worth about $28,000. We Are One Seven LLC bought a new stake in shares of Ellie Mae in the 4th quarter worth about $75,000. Advisor Group Inc. increased its position in shares of Ellie Mae by 32.6% in the 4th quarter. Advisor Group Inc. now owns 2,108 shares of the software maker’s stock worth $132,000 after purchasing an additional 518 shares during the last quarter. Bank of Montreal Can increased its position in shares of Ellie Mae by 7.1% in the 4th quarter. Bank of Montreal Can now owns 2,271 shares of the software maker’s stock worth $143,000 after purchasing an additional 150 shares during the last quarter. Finally, Ffcm LLC increased its position in shares of Ellie Mae by 328.9% in the 4th quarter. Ffcm LLC now owns 2,329 shares of the software maker’s stock worth $146,000 after purchasing an additional 1,786 shares during the last quarter.

Ellie Mae Company Profile

Ellie Mae, Inc provides cloud-based platform for the mortgage finance industry in the United States. It provides Encompass, an enterprise solution that engages in running the business of originating mortgages, including marketing and 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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