Ellie Mae Receives New Coverage from Analysts at FBR & Co. (ELLI)

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Equities research analysts at FBR & Co. started coverage on shares of Ellie Mae (NASDAQ: ELLI) in a research note issued to investors on Wednesday, ARN reports. The firm set an “outperform” rating on the stock.

A number of other analysts have also recently weighed in on ELLI. Analysts at FBR Capital Markets initiated coverage on shares of Ellie Mae in a research note to investors on Tuesday. They set an “outperform” rating and a $35.00 price target on the stock. Analysts at Zacks downgraded shares of Ellie Mae from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, April 17th. They now have a $26.20 price target on the stock.

One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.24.

Ellie Mae (NASDAQ: ELLI) opened at 21.95 on Wednesday. Ellie Mae has a 52-week low of $14.84 and a 52-week high of $30.59. The stock’s 50-day moving average is currently $23.78. The company has a market cap of $577.5 million and a price-to-earnings ratio of 29.95.

Ellie Mae (NASDAQ: ELLI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $30.86 million for the quarter, compared to the consensus estimate of $30.53 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 47.6% on a year-over-year basis. Ellie Mae has set its Q2 guidance at $0.27-0.29 EPS and its FY13 guidance at $1.06-1.09 EPS. On average, analysts predict that Ellie Mae will post $1.09 earnings per share for the current fiscal year.

Ellie Mae, Inc. hosts an electronic mortgage origination networks in the United States. The Ellie Mae Network electronically connects approximately 55,000 mortgage professionals to the mortgage lenders, investors and service providers integral to the origination and funding of residential mortgages.

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