DA Davidson Starts Ellie Mae (ELLI) at Neutral; Increasingly Complex Origination Market Ripe
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Price: $98.99 --0%
Rating Summary:
6 Buy, 13 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 13 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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DA Davidson initiates coverage on Ellie Mae (NYSE: ELLI) with a Neutral. PT $20.00.
Analyst, John Kraft, said, "Originations involve a huge number of steps, are error prone and labor intensive. Increasing regulatory hurdles and industry pressures are making these transactions more onerous and expensive. ELLI automates and simplifies the process."
"Ellie Mae is growing fast and we believe continued growth is likely. However, with much of this optimism already built into the current price, we fear near-term investors may see limited upside." (Kraft sees FY12 & 13 EPS estimate at $0.44)
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 $19.03 yesterday.
Analyst, John Kraft, said, "Originations involve a huge number of steps, are error prone and labor intensive. Increasing regulatory hurdles and industry pressures are making these transactions more onerous and expensive. ELLI automates and simplifies the process."
"Ellie Mae is growing fast and we believe continued growth is likely. However, with much of this optimism already built into the current price, we fear near-term investors may see limited upside." (Kraft sees FY12 & 13 EPS estimate at $0.44)
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 $19.03 yesterday.
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