Ellie Mae (ELLI) Cut to Neutral at Bank of America

Bank of America cut shares of Ellie Mae (NYSE:ELLI) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, Marketbeat reports. The firm currently has $110.00 target price on the software maker’s stock.

Several other research firms have also recently weighed in on ELLI. Morgan Stanley upped their target price on Ellie Mae from $101.00 to $109.00 and gave the stock an equal weight rating in a research note on Tuesday, January 30th. Zacks Investment Research downgraded shares of Ellie Mae from a hold rating to a sell rating in a report on Tuesday, April 10th. KeyCorp reiterated a buy rating and set a $120.00 price target on shares of Ellie Mae in a report on Wednesday, March 21st. Wedbush downgraded shares of Ellie Mae from a neutral rating to an underperform rating and upped their price target for the stock from $90.00 to $109.00 in a report on Thursday, April 12th. Finally, Oppenheimer reiterated a buy rating and set a $110.00 price target on shares of Ellie Mae in a report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Ellie Mae has a consensus rating of Hold and a consensus target price of $105.25.

How to Become a New Pot Stock Millionaire

NYSE ELLI opened at $89.72 on Monday. Ellie Mae has a fifty-two week low of $79.71 and a fifty-two week high of $114.95. The firm has a market cap of $2,990.07, a price-to-earnings ratio of 87.11, a price-to-earnings-growth ratio of 7.53 and a beta of 0.53.



Ellie Mae (NYSE:ELLI) last released its earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Ellie Mae had a return on equity of 5.39% and a net margin of 12.67%. The firm had revenue of $112.89 million during the quarter, compared to analysts’ expectations of $108.27 million. During the same period in the prior year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. equities analysts anticipate that Ellie Mae will post 0.77 EPS for the current fiscal year.

In related news, CEO Jonathan Corr sold 11,232 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $89.20, for a total value of $1,001,894.40. Following the completion of the sale, the chief executive officer now directly owns 106,196 shares in the company, valued at $9,472,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sigmund Anderman sold 3,151 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $90.35, for a total value of $284,692.85. Following the completion of the sale, the insider now owns 59,262 shares of the company’s stock, valued at $5,354,321.70. The disclosure for this sale can be found here. Insiders sold 58,727 shares of company stock valued at $5,367,643 over the last 90 days. 3.14% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB acquired a new stake in Ellie Mae in the fourth quarter valued at $300,000. MetLife Investment Advisors LLC acquired a new stake in Ellie Mae in the fourth quarter valued at $1,406,000. Jane Street Group LLC acquired a new stake in Ellie Mae in the fourth quarter valued at $473,000. LPL Financial LLC increased its holdings in Ellie Mae by 22.4% in the fourth quarter. LPL Financial LLC now owns 6,878 shares of the software maker’s stock valued at $615,000 after purchasing an additional 1,258 shares during the period. Finally, Millennium Management LLC acquired a new stake in Ellie Mae in the fourth quarter valued at $531,000.

TRADEMARK VIOLATION NOTICE: “Ellie Mae (ELLI) Cut to Neutral at Bank of America” was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://stocknewstimes.com/2018/04/19/ellie-mae-elli-cut-to-neutral-at-bank-of-america.html.

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.

Analyst Recommendations for Ellie Mae (NYSE:ELLI)

Receive News & Ratings for Ellie Mae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellie Mae and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply