[Business Wire] Ellie Mae Inc (NYSE:ELLI)(TREND ANALYSIS) announced that it will visit the New York Stock Exchange (NYSE) to ring The Closing BellSM on Monday, May 2, 2016, to commemorate the fifth anniversary of the Company’s initial public offering. Jonathan Corr, Ellie Mae President and CEO, Sig Anderman, Ellie Mae Executive Chairman and Founder, and members of the executive team will be present to ring the closing bell.
Ellie Mae had its initial public offering in April 2011. Since the IPO, annual revenues have increased to $253.9 million in 2015, up from $55.5 million in 2011, a 357 percent increase, and the company now has approximately 180,000 contracted users of its Encompass® all-in-one mortgage management solution, up from 23,820 users in Q1 2011, a 597 percent increase.
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Ellie Mae Inc (NYSE:ELLI) stock is currently trading 11.25% below its 52-week-high, 44.71% above its 52-week-low. The 1-year stock price history is in the range of $57.77 – $94.2. Ellie Mae Inc (ELLI) has a price to earnings ratio of 116.11 versus Technology sector average of 24.21. ELLI stock price has outperformed the S&P 500 by 37.1%. The Diversified Financial Services company is currently valued at $2.48 billion, and its share price closed the last trading session at $83.6. The stock has a 50-day moving average of $86.93 and a 200-day moving average of $72.98.
Ellie Mae Inc (ELLI) current short interest stands at 2.31 million shares. It has increased by 9% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.66 million shares, the number of days required to cover the short positions stand at 3.5 days.
ELLI is forecasted to report earnings per share of $0.29 and a revenue of $85.17 million for the 2nd Quarter of the fiscal year 2016. Ellie Mae Inc (ELLI) declared last quarter earnings on April 28. The Diversified Financial Services company announced last quarter earnings per share of $0.34 against a consensus Street estimate of $0.31, beating the average estimate by $0.03. The company posted a revenue of $73.6 million.
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There are currently nine analysts that cover Ellie Mae Inc stock. Of those nine, six have a Buy rating, three have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $98.
A recent analyst activity consisted of Stephens & Co. downgrading their Overweight rating to Equal-weight on April 29. On the date of report, the stock closed at $83.6.
Roth Capital reiterated their Buy stance on April 26, and increased their price target on ELLI stock from $95 to $105. This corresponds to a 25.6% upside from the last closing price. On the date of report, the stock closed at $91.69.
Another research firm was Oppenheimer who reiterated their Outperform stance on March 9. Oppenheimer increased their price target on Ellie Mae Inc from $82 to $92. This translates to a 10.05% upside from the last closing price. On the date of report, the stock closed at $83.45.
Ellie Mae, Inc. provides electronic mortgage origination in the United States. The Company provides network and technology solutions which help streamline and automate the mortgage origination process. Ellie Mae’s network connects mortgage professionals to mortgage lenders, investors, and service providers.