U.S. Markets closed

Ellie Mae (ELLI) Worth Watching: Stock Moves 7.0% Higher

Zacks Equity Research

Ellie Mae, Inc. (ELLI) was a big mover last session, as the company saw its shares rise almost 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company as the stock is now trading above the volatile price range of $28.05 to $30.24 since July 8.

This provider of on-demand software solutions and services for the U.S. residential mortgage industry has seen no estimate revision over the past 30 days. However, the Zacks Consensus Estimate has moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if Friday’s rally can turn into more strength down the road.

Ellie Mae currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Investors interested in the Internet software and services industry may consider better-ranked stocks like NetEase, Inc. (NTES), RingCentral, Inc. (RNG) and VeriSign, Inc. (VRSN). All the three stocks bear a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

ELLIE MAE INC (ELLI): Free Stock Analysis Report

NETEASE ADS (NTES): Free Stock Analysis Report

RINGCENTRAL INC (RNG): Free Stock Analysis Report

VERISIGN INC (VRSN): Free Stock Analysis Report

Zacks Investment Research