Ellie Mae, Inc. (ELLI - Free Report) was a big mover last session, as the company saw its shares rise nearly 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 31.9% in the past one-month time frame.
The upside was driven by rumors that the company may be looking to negotiate a deal with a potential buyer or private equity company.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
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 a better-ranked stock like NetEase, Inc. (NTES - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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