Barclays Reiterates an 'Overweight' on Ellie Mae (ELLI); Uncovered and Gaining Further Traction
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Price: $22.64 -0.22%
Rating Summary:
9 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 22 | New: 19
Rating Summary:
9 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 22 | New: 19
Trade ELLI Now!
Barclays reiterates an 'Overweight' on Ellie Mae (NYSE: ELLI) price target raised from $17 to $20.
Analyst, Raimo Lenschow, said, "Ellie Mae reported a very strong 1Q12. Total revenue, adjusted EBITDA and earnings were all well above expectations. The magnitude is partly explained by the fact that absolute numbers are still small, but nonetheless the detailed results show that the company is well on track with its SaaS transition and also is starting to benefit from higher-than-expected volumes in the mortgage market. We believe the trends should continue and hence Ellie Mae remains one of the stocks with the highest price target upside in our space."
Barclays raises FY12/13 EPS slightly from $0.32/0.64 to $0.45/0.65.
For an analyst ratings summary and ratings history on Ellie Mae click here. For more ratings news on Ellie Mae click here.
Shares of Ellie Mae closed at $12.76 yesterday, with a 52 week range of $3.46-$13.60.
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Analyst, Raimo Lenschow, said, "Ellie Mae reported a very strong 1Q12. Total revenue, adjusted EBITDA and earnings were all well above expectations. The magnitude is partly explained by the fact that absolute numbers are still small, but nonetheless the detailed results show that the company is well on track with its SaaS transition and also is starting to benefit from higher-than-expected volumes in the mortgage market. We believe the trends should continue and hence Ellie Mae remains one of the stocks with the highest price target upside in our space."
Barclays raises FY12/13 EPS slightly from $0.32/0.64 to $0.45/0.65.
For an analyst ratings summary and ratings history on Ellie Mae click here. For more ratings news on Ellie Mae click here.
Shares of Ellie Mae closed at $12.76 yesterday, with a 52 week range of $3.46-$13.60.
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