Ellie Mae Inc (ELLI) Receives a Buy from JMP Securities

By Ryan Adsit

In a report issued on February 7, Patrick Walravens from JMP Securities maintained a Buy rating on Ellie Mae Inc (ELLIResearch Report), with a price target of $99. The company’s shares closed on Friday at $82.94.

According to TipRanks.com, Walravens is a top 100 analyst with an average return of 20.2% and a 73.0% success rate. Walravens covers the Technology sector, focusing on stocks such as Salesforce.com, BlackLine Inc, and DocuSign Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for Ellie Mae Inc with a $66.50 average price target.

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Ellie Mae Inc’s market cap is currently $2.89B and has a P/E ratio of 91.76. The company has a Price to Book ratio of 3.64.

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Ellie Mae, Inc. engages in the provision of software solutions and services for the residential mortgage industry. Its services include Encompass education and certification, professional consulting, implementation, and business writing. The company was founded by Limin Hu and Sigmund Anderman in August 1997 and is headquartered in Pleasanton, CA.