$108.42 Million in Sales Expected for Ellie Mae Inc (ELLI) This Quarter

Equities research analysts predict that Ellie Mae Inc (NYSE:ELLI) will report sales of $108.42 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ellie Mae’s earnings, with the lowest sales estimate coming in at $107.40 million and the highest estimate coming in at $109.84 million. Ellie Mae reported sales of $93.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.6%. The company is expected to issue its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Ellie Mae will report full year sales of $108.42 million for the current year, with estimates ranging from $451.92 million to $501.20 million. For the next financial year, analysts forecast that the firm will report sales of $571.39 million per share, with estimates ranging from $498.10 million to $609.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Ellie Mae.

Ellie Mae (NYSE:ELLI) last posted its earnings results on Thursday, February 8th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Ellie Mae had a return on equity of 5.43% and a net margin of 12.67%. The firm had revenue of $112.89 million for the quarter, compared to analysts’ expectations of $108.27 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year.

Several equities analysts have recently issued reports on ELLI shares. Zacks Investment Research cut Ellie Mae from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Barclays raised Ellie Mae from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $114.00 in a research note on Tuesday, January 9th. Compass Point started coverage on Ellie Mae in a research note on Wednesday, January 3rd. They set a “sell” rating and a $65.00 target price on the stock. Bank of America reduced their target price on Ellie Mae from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $106.00 price target on shares of Ellie Mae in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $106.11.

In other Ellie Mae news, CEO Jonathan Corr sold 1,131 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $93.50, for a total value of $105,748.50. Following the sale, the chief executive officer now directly owns 114,922 shares of the company’s stock, valued at $10,745,207. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Sigmund Anderman sold 7,920 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $87.38, for a total value of $692,049.60. Following the completion of the sale, the chairman now directly owns 98,321 shares in the company, valued at $8,591,288.98. The disclosure for this sale can be found here. Insiders have sold 52,253 shares of company stock worth $4,743,558 over the last 90 days. 3.39% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors boosted its holdings in Ellie Mae by 26.8% in the third quarter. Nationwide Fund Advisors now owns 242,728 shares of the software maker’s stock worth $19,935,000 after acquiring an additional 51,253 shares in the last quarter. Meritage Group LP bought a new stake in Ellie Mae in the third quarter worth $38,834,000. Merriman Wealth Management LLC boosted its holdings in Ellie Mae by 14.2% in the third quarter. Merriman Wealth Management LLC now owns 80,586 shares of the software maker’s stock worth $6,619,000 after acquiring an additional 10,000 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Ellie Mae by 378.7% in the third quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock worth $15,712,000 after acquiring an additional 151,347 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in Ellie Mae by 193.6% in the third quarter. Trexquant Investment LP now owns 7,017 shares of the software maker’s stock worth $576,000 after acquiring an additional 4,627 shares in the last quarter.

Ellie Mae (NYSE:ELLI) opened at $90.79 on Friday. Ellie Mae has a 12 month low of $79.71 and a 12 month high of $114.95. The stock has a market capitalization of $3,072.28, a P/E ratio of 61.34, a PEG ratio of 7.63 and a beta of 0.57.

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Ellie Mae Company Profile

Ellie Mae, Inc is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. Banks, credit unions, mortgage lenders and mortgage brokers use the Company’s Encompass mortgage management solution to originate and fund mortgages. The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management.

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