Ellie Mae (ELLI): Notes From the Road - Needham
- Wall St dips on Trump protectionism, Qualcomm drag
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- Qualcomm (QCOM) Thrashed as Apple (AAPL) Lawsuit Threatens Licensing Business Model
- McDonald's (MCD) Tops Q4 EPS by 3c
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.
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
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
- Plexus Corp (PLXS): Raising PT After Noisy Quarter - Needham
- RBC Capital Reiterates Outperform on General Electric (GE) Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!