Ellie Mae (ELLI): Notes From the Road - Needham

August 26, 2016 6:49 AM EDT
Get Alerts ELLI Hot Sheet
Price: $83.51 -0.39%

Rating Summary:
    11 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
Trade ELLI Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Needham & Company analyst, Mayank Tandon, reiterated his Buy rating on shares of Ellie Mae (NYSE: ELLI) after hosting company management on a non deal roadshow in Chicago.

The analyst has increased confidence that the company will continue to penetrate the large TAM, and robust multi-year revenue growth and margin expansion opportunities. ELLI continues to outperform expectations fueled by multiple growth drivers such as compliance resulting from changing regulations, automation of the loan origination process, and success in penetrating the enterprise market.

The “operating” assumptions are unchanged but the analyst cut EPS estimates to reflect the recent follow-on offering. No change to the price target of $125.

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 $96.63 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change

Related Entities

Needham & Company

Add Your Comment