Positive Press Coverage Likely to Impact Ellie Mae (ELLI) Stock Price
Press coverage about Ellie Mae (NASDAQ:ELLI) has trended positive this week, AlphaOne Sentiment Analysis reports. The research firm, a subsidiary of Accern, identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. AlphaOne ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ellie Mae earned a coverage optimism score of 0.29 on AlphaOne’s scale. AlphaOne also assigned media headlines about the software maker an impact score of 76 out of 100, meaning that recent news coverage is likely to have an impact on the company’s share price in the near term.
These are some of the media headlines that may have impacted Alpha One Sentiment Analysis’s scoring:
- Commit To Purchase Ellie Mae At $90, Earn 7.3% Annualized Using Options (nasdaq.com)
- Ellie Mae : Recognized as a Best Place to Work in the Bay Area (4-traders.com)
- Ellie Mae Recognized as a Best Place to Work in the Bay Area (finance.yahoo.com)
- Purchase Market Heats up While Time to Close Shrinks to Shortest Duration since Early 2015, According to Latest Origination Insight Report from Ellie Mae (finance.yahoo.com)
- Ellie Mae (ELLI) Receiving Favorable Press Coverage, Report Finds (americanbankingnews.com)
Ellie Mae (NASDAQ:ELLI) traded down 0.40% during mid-day trading on Friday, reaching $108.32. The company’s stock had a trading volume of 303,147 shares. The stock has a market cap of $3.66 billion and a P/E ratio of 94.19. Ellie Mae has a one year low of $74.11 and a one year high of $110.45. The firm’s 50 day moving average is $100.66 and its 200-day moving average is $93.22.
Ellie Mae (NASDAQ:ELLI) last announced its earnings results on Thursday, February 9th. The software maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The firm earned $96.20 million during the quarter, compared to analyst estimates of $88.73 million. Ellie Mae’s revenue was up 48.2% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. Equities analysts expect that Ellie Mae will post $1.88 earnings per share for the current fiscal year.
Several research firms have recently commented on ELLI. William Blair upgraded Ellie Mae from a “market perform” rating to an “outperform” rating in a report on Monday, April 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Ellie Mae in a report on Saturday, March 11th. CIBC lifted their price objective on Ellie Mae from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, March 24th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Ellie Mae in a report on Thursday, March 23rd. Finally, Vetr downgraded Ellie Mae from a “buy” rating to a “hold” rating and set a $97.50 price target on the stock. in a report on Monday, February 13th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $102.30.
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In other Ellie Mae news, CEO Jonathan Corr sold 2,732 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $88.61, for a total value of $242,082.52. Following the completion of the sale, the chief executive officer now directly owns 85,533 shares in the company, valued at $7,579,079.13. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Edgar Luce sold 5,687 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $93.53, for a total transaction of $531,905.11. Following the completion of the sale, the chief financial officer now owns 42,389 shares of the company’s stock, valued at $3,964,643.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,062 shares of company stock valued at $15,046,251.
About Ellie Mae
Ellie Mae, Inc is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. Banks, credit unions, mortgage lenders and mortgage brokers use the Company’s Encompass mortgage management solution to originate and fund mortgages. The Company’s Encompass software is an enterprise solution that handles functions involved in running the business of originating mortgages, including customer relationship management; loan processing; underwriting; preparation of application, disclosure and closing documents; funding and closing the loan for the borrower; compliance with regulatory and investor requirements, and overall enterprise management.
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