Ellie Mae Inc (ELLI) Announces Earnings Results, Beats Estimates By $0.09 EPS

Ellie Mae Inc (NASDAQ:ELLI) posted its quarterly earnings results on Thursday. The company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.09. The company earned $90.10 million during the quarter, compared to analyst estimates of $85.54 million. The firm’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. Ellie Mae updated its Q3 guidance to $0.56-$0.59 EPS and its FY16 guidance to $2.00-$2.06 EPS.

In other news, CEO Jonathan Corr sold 3,500 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $91.13, for a total transaction of $318,955.00. Following the completion of the transaction, the chief executive officer now owns 114,843 shares in the company, valued at approximately $10,465,642.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Edgar Luce sold 5,000 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $92.27, for a total value of $461,350.00. Following the transaction, the chief financial officer now owns 71,596 shares of the company’s stock, valued at approximately $6,606,162.92. The disclosure for this sale can be found here.

Ellie Mae (NASDAQ:ELLI) traded up 0.62% on Thursday, reaching $98.47. The company’s stock had a trading volume of 555,714 shares. Ellie Mae has a 52-week low of $57.88 and a 52-week high of $99.18. The firm has a market cap of $2.95 billion and a PE ratio of 145.02. The stock’s 50 day moving average price is $91.12 and its 200 day moving average price is $82.76.

A number of research firms recently commented on ELLI. Zacks Investment Research raised Ellie Mae from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Wednesday, July 6th. Barclays PLC downgraded Ellie Mae from an “overweight” rating to an “equal weight” rating and set a $97.00 price target for the company. in a research note on Tuesday, July 5th. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $100.00 price target on shares of Ellie Mae in a research note on Wednesday, June 15th.

Ellie Mae, Inc (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass all-in-one mortgage management solution provides one system of record that allows banks, credit unions, and mortgage lenders to originate and fund mortgages and improve compliance, loan quality, and efficiency.