Ellie Mae Inc (ELLI) Expected to Post Earnings of $0.24 Per Share

Wall Street brokerages expect that Ellie Mae Inc (NYSE:ELLI) will report earnings per share of $0.24 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ellie Mae’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.22. Ellie Mae posted earnings per share of $0.57 in the same quarter last year, which would indicate a negative year-over-year growth rate of 57.9%. The company is scheduled to report its next earnings report on Thursday, February 8th.

On average, analysts expect that Ellie Mae will report full year earnings of $1.53 per share for the current year, with EPS estimates ranging from $1.51 to $1.58. For the next financial year, analysts anticipate that the business will report earnings of $1.57 per share, with EPS estimates ranging from $1.07 to $1.78. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Ellie Mae.

Ellie Mae (NYSE:ELLI) last posted its quarterly earnings results on Thursday, October 26th. The software maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.40 by $0.13. Ellie Mae had a return on equity of 6.39% and a net margin of 13.45%. The business had revenue of $107.00 million for the quarter, compared to analyst estimates of $105.62 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year.

Several research firms have recently commented on ELLI. Royal Bank of Canada upgraded Ellie Mae from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $90.00 to $105.00 in a report on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and set a $116.00 price target on shares of Ellie Mae in a report on Sunday, November 19th. Barclays upgraded Ellie Mae from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $100.00 to $114.00 in a report on Tuesday. Zacks Investment Research raised Ellie Mae from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, BidaskClub raised Ellie Mae from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $108.50.

Ellie Mae (ELLI) opened at $95.10 on Friday. Ellie Mae has a fifty-two week low of $79.71 and a fifty-two week high of $114.95. The company has a market capitalization of $3,270.00, a price-to-earnings ratio of 62.98, a PEG ratio of 11.60 and a beta of 0.29.

In other Ellie Mae news, insider Sigmund Anderman sold 12,000 shares of Ellie Mae stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $89.24, for a total value of $1,070,880.00. Following the completion of the transaction, the insider now directly owns 98,321 shares of the company’s stock, valued at approximately $8,774,166.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Corr sold 1,623 shares of Ellie Mae stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $88.72, for a total value of $143,992.56. Following the completion of the transaction, the chief executive officer now directly owns 114,633 shares of the company’s stock, valued at $10,170,239.76. The disclosure for this sale can be found here. Insiders have sold a total of 62,739 shares of company stock valued at $5,555,112 over the last three months. Corporate insiders own 3.39% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELLI. Meritage Group LP acquired a new position in Ellie Mae in the 3rd quarter valued at about $38,834,000. Baillie Gifford & Co. grew its position in Ellie Mae by 51.5% in the 3rd quarter. Baillie Gifford & Co. now owns 818,296 shares of the software maker’s stock valued at $67,207,000 after acquiring an additional 278,321 shares in the last quarter. Ameriprise Financial Inc. grew its position in Ellie Mae by 378.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 191,316 shares of the software maker’s stock valued at $15,712,000 after acquiring an additional 151,347 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Ellie Mae in the 3rd quarter valued at about $11,753,000. Finally, Tekne Capital Management LLC grew its position in Ellie Mae by 35.8% in the 3rd quarter. Tekne Capital Management LLC now owns 429,539 shares of the software maker’s stock valued at $35,278,000 after acquiring an additional 113,237 shares in the last quarter.

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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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