$122.97 Million in Sales Expected for Ellie Mae Inc (ELLI) This Quarter

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Equities research analysts expect that Ellie Mae Inc (NYSE:ELLI) will report $122.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Ellie Mae’s earnings, with estimates ranging from $122.41 million to $123.38 million. Ellie Mae posted sales of $104.13 million in the same quarter last year, which would indicate a positive year over year growth rate of 18.1%. The business is scheduled to report its next earnings results on Thursday, July 26th.

On average, analysts expect that Ellie Mae will report full year sales of $500.67 million for the current year, with estimates ranging from $497.65 million to $504.90 million. For the next financial year, analysts expect that the business will post sales of $596.64 million per share, with estimates ranging from $589.29 million to $609.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Ellie Mae.

Ellie Mae (NYSE:ELLI) last announced its earnings results on Thursday, April 26th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.25. Ellie Mae had a return on equity of 5.73% and a net margin of 10.28%. The business had revenue of $117.91 million for the quarter, compared to analyst estimates of $108.80 million. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year.

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Ellie Mae from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $112.00 to $118.00 in a research report on Thursday. They noted that the move was a valuation call. Compass Point reaffirmed a “sell” rating and set a $60.00 target price (up from $58.75) on shares of Ellie Mae in a research report on Friday, April 27th. Zelman & Associates raised Ellie Mae from a “sell” rating to a “hold” rating in a research report on Friday, April 20th. Wedbush reaffirmed an “underperform” rating and set a $69.00 target price on shares of Ellie Mae in a research report on Friday, April 27th. Finally, Zacks Investment Research raised Ellie Mae from a “sell” rating to a “strong-buy” rating and set a $113.00 target price on the stock in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $103.33.

In related news, CEO Jonathan Corr sold 2,306 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $91.56, for a total value of $211,137.36. Following the completion of the sale, the chief executive officer now directly owns 111,289 shares of the company’s stock, valued at $10,189,620.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brian E. Brown sold 465 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $91.95, for a total value of $42,756.75. Following the completion of the sale, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at $1,628,250.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,071 shares of company stock valued at $4,418,491. 3.14% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. We Are One Seven LLC boosted its stake in Ellie Mae by 238.3% in the first quarter. We Are One Seven LLC now owns 1,316 shares of the software maker’s stock valued at $121,000 after acquiring an additional 927 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ellie Mae by 45.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,941 shares of the software maker’s stock valued at $174,000 after acquiring an additional 602 shares during the period. Barings LLC acquired a new position in Ellie Mae in the fourth quarter valued at approximately $201,000. M&T Bank Corp acquired a new position in Ellie Mae in the first quarter valued at approximately $206,000. Finally, ETRADE Capital Management LLC acquired a new position in Ellie Mae in the first quarter valued at approximately $215,000.

Shares of Ellie Mae traded down $2.85, reaching $110.59, during midday trading on Friday, according to Marketbeat. 761,600 shares of the company’s stock were exchanged, compared to its average volume of 484,671. Ellie Mae has a 52-week low of $79.71 and a 52-week high of $116.90. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 107.37, a PEG ratio of 7.50 and a beta of 0.58.

Ellie Mae Company Profile

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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