Needham & Company Raises Numbers on Ellie Mae (ELLI); Q2 was Rock Solid
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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 maintains a 'Buy' on Ellie Mae (NYSE: ELLI) price target of $30.00 (from $24.00).
Analyst, Michael Huang, said, "We were particularly impressed by beat on the bottom line ($0.15 above Street estimates of $0.12), which reflects the clear leverage in the model as loan volumes stabilize and even improve off trough levels. Given the sizeable opportunity to migrate the roughly 30K Encompass license users and 20K Datatrac users to SaaS Encompass and to Success Based Pricing along with continued new user growth, we’d expect key business metrics and revenue growth to be impressive through the intermediate term, even assuming some deterioration of industry loan volumes through 2013." (FY12 EPS estimate raised from $0.40 to $0.72 and FY13 from $0.53 to $0.73)
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 $20.50 yesterday.
Analyst, Michael Huang, said, "We were particularly impressed by beat on the bottom line ($0.15 above Street estimates of $0.12), which reflects the clear leverage in the model as loan volumes stabilize and even improve off trough levels. Given the sizeable opportunity to migrate the roughly 30K Encompass license users and 20K Datatrac users to SaaS Encompass and to Success Based Pricing along with continued new user growth, we’d expect key business metrics and revenue growth to be impressive through the intermediate term, even assuming some deterioration of industry loan volumes through 2013." (FY12 EPS estimate raised from $0.40 to $0.72 and FY13 from $0.53 to $0.73)
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 $20.50 yesterday.
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