$119.79 Million in Sales Expected for Ellie Mae Inc (ELLI) This Quarter

Analysts predict that Ellie Mae Inc (NASDAQ:ELLI) will post $119.79 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Ellie Mae’s earnings. The lowest sales estimate is $117.42 million and the highest is $121.40 million. Ellie Mae reported sales of $100.38 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.3%. The business is scheduled to issue its next earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Ellie Mae will report full-year sales of $119.79 million for the current fiscal year, with estimates ranging from $436.78 million to $439.89 million. For the next fiscal year, analysts expect that the company will report sales of $537.93 million per share, with estimates ranging from $526.44 million to $545.09 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Ellie Mae.

Ellie Mae (NASDAQ:ELLI) last posted its earnings results on Thursday, July 27th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.16. Ellie Mae had a net margin of 10.32% and a return on equity of 5.72%. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $110.69 million. During the same period last year, the business posted $0.64 EPS. Ellie Mae’s revenue was up 15.5% compared to the same quarter last year.

A number of brokerages recently weighed in on ELLI. Zacks Investment Research upgraded shares of Ellie Mae from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a report on Monday, July 3rd. William Blair upgraded shares of Ellie Mae from a “market perform” rating to an “outperform” rating in a report on Monday, April 3rd. ValuEngine downgraded shares of Ellie Mae from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank Of Canada lowered their target price on shares of Ellie Mae from $111.00 to $96.00 and set a “sector perform” rating on the stock in a report on Monday, April 24th. Finally, Bank of America Corporation began coverage on shares of Ellie Mae in a report on Monday, May 15th. They set a “buy” rating and a $130.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $116.54.

In other Ellie Mae news, CEO Jonathan Corr sold 2,211 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $106.33, for a total value of $235,095.63. Following the transaction, the chief executive officer now directly owns 114,615 shares in the company, valued at $12,187,012.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sigmund Anderman sold 12,253 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $111.31, for a total transaction of $1,363,881.43. Following the completion of the transaction, the insider now owns 105,167 shares in the company, valued at $11,706,138.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,516 shares of company stock worth $7,122,641.

Institutional investors have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. bought a new position in Ellie Mae during the second quarter valued at approximately $512,000. Kornitzer Capital Management Inc. KS increased its position in Ellie Mae by 34.0% in the second quarter. Kornitzer Capital Management Inc. KS now owns 65,090 shares of the software maker’s stock valued at $7,154,000 after buying an additional 16,520 shares during the period. Strs Ohio increased its position in Ellie Mae by 19.5% in the second quarter. Strs Ohio now owns 4,900 shares of the software maker’s stock valued at $538,000 after buying an additional 800 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in Ellie Mae by 5.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 68,459 shares of the software maker’s stock valued at $7,524,000 after buying an additional 3,696 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Ellie Mae by 4.7% in the second quarter. Russell Investments Group Ltd. now owns 108,739 shares of the software maker’s stock valued at $11,950,000 after buying an additional 4,920 shares during the period.

Ellie Mae (NASDAQ ELLI) opened at 87.22 on Tuesday. Ellie Mae has a 1-year low of $77.60 and a 1-year high of $114.95. The firm has a market capitalization of $2.99 billion and a price-to-earnings ratio of 57.84. The company has a 50-day moving average of $109.15 and a 200-day moving average of $102.16.

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About Ellie Mae

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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