Needham & Company Starts Ellie Mae (ELLI) at Buy; Broken American Dream Overhauled
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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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Needham & Company initiates coverage on Ellie Mae (NYSE: ELLI) with a Buy. PT $24.00.
Analyst, Michael Huang, said, "We see ELLI as an under-the-radar, secular growth SaaS story dominating a large vertical market (residential mortgage). Thus it’s well leveraged to stabilizing residential mortgage volumes and to the ongoing and inevitable overhaul of a notably inefficient, paper-based, error-prone, fragmented, and increasingly regulated residential mortgage industry."
"While ELLI shares have been on a tear more recently (up 227% over the past 6 months vs. NASDAQ up 12%), they are still not expensive by SaaS standards (4.3x EV/13E Rev vs. SaaS average of 4.3x) despite impressive growth rates, margins, and barriers to entry that could even be above many other SaaS peers."
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 $18.45 yesterday.
Analyst, Michael Huang, said, "We see ELLI as an under-the-radar, secular growth SaaS story dominating a large vertical market (residential mortgage). Thus it’s well leveraged to stabilizing residential mortgage volumes and to the ongoing and inevitable overhaul of a notably inefficient, paper-based, error-prone, fragmented, and increasingly regulated residential mortgage industry."
"While ELLI shares have been on a tear more recently (up 227% over the past 6 months vs. NASDAQ up 12%), they are still not expensive by SaaS standards (4.3x EV/13E Rev vs. SaaS average of 4.3x) despite impressive growth rates, margins, and barriers to entry that could even be above many other SaaS peers."
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 $18.45 yesterday.
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