Barclays Maintains an 'Overweight' on Ellie Mae (ELLI); Growth Prospects Still Not Fully Priced In
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Price: $22.24 --0%
Rating Summary:
9 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 13
Rating Summary:
9 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 13
Trade ELLI Now!
Barclays maintains an 'Overweight' on Ellie Mae (NYSE: ELLI) price target of $32.00 (from $25.00).
Analyst, Raimo Lenschow, believes some of the company's growth drivers are still not fully understood. Despite shares being on a tear this year (+400%), he thinks the market still isn't pricing in all growth prospects.
Lenschow, said, "The increase in the number of active success-based pricing (SBP) SaaS users is the main factor driving upside to our revenue model and something we believe investors do not yet fully appreciate. Accordingly, we are raising our price target to $32 from $25 as we continue to see significant upside to currently modeled estimates."
FY12 EPS estimate raised from $0.75 to $0.76 and FY13 from $0.70 to $0.80.
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 $26.17 yesterday, with a 52 week range of $4.76-$29.49.
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Analyst, Raimo Lenschow, believes some of the company's growth drivers are still not fully understood. Despite shares being on a tear this year (+400%), he thinks the market still isn't pricing in all growth prospects.
Lenschow, said, "The increase in the number of active success-based pricing (SBP) SaaS users is the main factor driving upside to our revenue model and something we believe investors do not yet fully appreciate. Accordingly, we are raising our price target to $32 from $25 as we continue to see significant upside to currently modeled estimates."
FY12 EPS estimate raised from $0.75 to $0.76 and FY13 from $0.70 to $0.80.
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 $26.17 yesterday, with a 52 week range of $4.76-$29.49.
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