Ellie Mae (ELLI) keeps on rising

[admin]

Well, it cooled off a bit, but then again raised upwards and it's now really overbought with an RSI above 80

[admin]

And yet another blowout quarter:

• On top of beating Q2 estimates, Ellie Mae (NYSE:ELLI) is guiding for Q3 revenue of $61M-$62M and EPS of $0.31-$0.34 (above a consensus of $57M and $0.27), and full-year revenue of $237.5M-$238.5M and EPS of $1.27-$1.32 (above a consensus of $226.9M and $1.14).
• Active users of Ellie Mae's Encompass mortgage origination software rose 28% Y/Y in Q2 to 127K; active users of the SaaS version of Encompass rose 47% to 106K. Revenue per average active Encompass user rose 28% to $526.
• CEO Jonathan Corr: "With a healthy pick up in the purchase market, our customers continued to grow their businesses and close more loans during the quarter ... Our highly differentiated approach to meeting lenders needs for loan quality, regulatory compliance and operating efficiency has resulted in growth that outpaced the overall mortgage origination market as we continued to capture market share."
• Shares have risen to $73.97 AH.