For what it's worth The William Blair downgrade was what took the stock down, but other analyst are more upbeat.
Maxim Group Analysts Initiate Coverage on Ellie Mae (ELLI)
Maxim Group assumed coverage on shares of Ellie Mae (NASDAQ: ELLI) in a research note issued to investors on Tuesday. The firm issued a buy rating and a $28.00 target price on the stock.
Ellie Mae traded down 1.62% on Tuesday, hitting $20.03. Ellie Mae has a 1-year low of $5.97 and a 1-year high of $30.59. The stock’s 50-day moving average is currently $25.82. The company has a market cap of $513.9 million and a price-to-earnings ratio of 28.08.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Ellie Mae from a neutral rating to an outperform rating in a research note to investors on Monday. They now have a $29.50 price target on the stock. Separately, analysts at William Blair downgraded shares of Ellie Mae from an outperform rating to a market perform rating in a research note to investors on Wednesday, January 23rd. Finally, analysts at Dougherty & Co reiterated a buy rating on shares of Ellie Mae in a research note to investors on Thursday, January 10th. They now have a $33.00 price target on the stock.
Six investment analysts have rated the stock with a buy rating, one has given an overweight rating, two have assigned a hold rating, and one has issued a sell rating to the company’s stock. The company has a consensus rating of overweight and a consensus price target of $30.33.