Roth Capital downgraded shares of Ellie Mae (NYSE:ELLI) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, The Fly reports. The firm currently has $99.00 price target on the software maker’s stock, down from their previous price target of $100.00.
A number of other analysts have also weighed in on ELLI. Barclays restated a buy rating and set a $102.00 target price on shares of Ellie Mae in a report on Tuesday, October 16th. ValuEngine lowered Ellie Mae from a buy rating to a hold rating in a report on Friday, October 26th. JPMorgan Chase & Co. lowered Ellie Mae from a neutral rating to an underweight rating and lowered their target price for the stock from $125.00 to $76.00 in a report on Friday, October 26th. Royal Bank of Canada lowered Ellie Mae from an outperform rating to a sector perform rating in a report on Friday, October 26th. Finally, Compass Point lowered their target price on Ellie Mae from $60.00 to $55.00 and set a sell rating for the company in a report on Friday, October 26th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $83.14.
Ellie Mae stock opened at $98.95 on Tuesday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 96.07, a P/E/G ratio of 6.20 and a beta of 1.38. Ellie Mae has a twelve month low of $58.49 and a twelve month high of $116.90.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Interstate Bank acquired a new position in shares of Ellie Mae in the 4th quarter valued at $28,000. We Are One Seven LLC acquired a new position in shares of Ellie Mae in the 4th quarter valued at $75,000. Advisor Group Inc. increased its position in shares of Ellie Mae by 32.6% in the 4th quarter. Advisor Group Inc. now owns 2,108 shares of the software maker’s stock valued at $132,000 after acquiring an additional 518 shares during the period. Bank of Montreal Can increased its position in shares of Ellie Mae by 7.1% in the 4th quarter. Bank of Montreal Can now owns 2,271 shares of the software maker’s stock valued at $143,000 after acquiring an additional 150 shares during the period. Finally, Ffcm LLC increased its position in shares of Ellie Mae by 328.9% in the 4th quarter. Ffcm LLC now owns 2,329 shares of the software maker’s stock valued at $146,000 after acquiring an additional 1,786 shares during the period.
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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