Barclays Downgrades Ellie Mae Inc to Equal-weight

Brokerage firm Barclays Downgrades its rating on Ellie Mae Inc(NYSE:ELLI). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Barclays was issued on Jul 5, 2016.

In a different note, On Apr 29, 2016, Stephens & Co. said it Downgrades its rating on Ellie Mae Inc. The shares have been rated ‘Equal-weight’ by the firm. On Apr 26, 2016, Roth Capital said it Maintains its rating on Ellie Mae Inc. In the research note, the firm Raises the price-target to $95.00 per share. The shares have been rated ‘Buy’ by the firm.

Ellie Mae Inc (ELLI) shares turned negative on Fridays trading session with the shares closing down -1.16 points or -1.21% at a volume of 7,98,787. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $96.75. The peak price level was also seen at $96.75 while the days lowest was $93.91. Finally the shares closed at $94.57. The 52-week high of the shares is $97.1199 while the 52-week low is $57.88. According to the latest information available, the market cap of the company is $2,836 M.

Ellie Mae Inc(ELLI) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $73.63M. Analysts had an estimated revenue of $68.77M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.31.

Several Insider Transactions has been reported to the SEC. On Jun 21, 2016, Marina Levinson (director) sold 1,588 shares at $86.06 per share price.Also, On Jun 21, 2016, Robert J Levin (director) sold 635 shares at $86.06 per share price.On Jun 21, 2016, A Barr Dolan (director) sold 635 shares at $86.06 per share price, according to the Form-4 filing with the securities and exchange commission.

Ellie Mae Inc. (Ellie Mae) is a provider of on-demand software solutions and services for the residential mortgage industry in the United States. The Company’s Encompass mortgage management solution provides one system of record that allows banks credit unions and mortgage lenders to originate and fund mortgages. The Encompass mortgage management solution 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 that provides one system of record. The Company delivers Encompass software in an on-demand Software-as-a-Service (SaaS). The Company also hosts the Ellie Mae Network.

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