Barclays Maintains an 'Overweight' on Ellie Mae (ELLI); Adds to User Base with DMD Acquisition
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Price: $98.99 --0%
Rating Summary:
6 Buy, 13 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 13 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Ellie Mae (NYSE: ELLI) price target of $10.00.
Barclays analyst says, "Acquisition Provides Compelling Cross-Sell Opportunity: Del Mar DataTrac adds 20,000 users to the existing Ellie Mae Network of 50,600, for cross selling Encompass and transaction services."
"Lowering FY11 EPS; Expect Material Accretion in FY12: We are raising our FY11 revenue estimate to $52.3 million from $51.3 million and lowering our non GAAP EPS estimate to $0.12 from $0.23 for the initial dilution, consistent with guidance. However, we estimate that the deal will be materially accretive to our FY12 estimates, driven by cross sell activity, operating expense scale and amortization of the deferred write-off ($1.5 million). We are raising our FY12 revenue and EPS estimates to $74.2 million and $0.40 from $66 million and $0.35."
For more ratings news on Ellie Mae click here and for the rating history of Ellie Mae click here.
Shares of Ellie Mae closed at $5.15 yesterday.
Barclays analyst says, "Acquisition Provides Compelling Cross-Sell Opportunity: Del Mar DataTrac adds 20,000 users to the existing Ellie Mae Network of 50,600, for cross selling Encompass and transaction services."
"Lowering FY11 EPS; Expect Material Accretion in FY12: We are raising our FY11 revenue estimate to $52.3 million from $51.3 million and lowering our non GAAP EPS estimate to $0.12 from $0.23 for the initial dilution, consistent with guidance. However, we estimate that the deal will be materially accretive to our FY12 estimates, driven by cross sell activity, operating expense scale and amortization of the deferred write-off ($1.5 million). We are raising our FY12 revenue and EPS estimates to $74.2 million and $0.40 from $66 million and $0.35."
For more ratings news on Ellie Mae click here and for the rating history of Ellie Mae click here.
Shares of Ellie Mae closed at $5.15 yesterday.
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