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Fly News Breaks for July 29, 2016
ELLI
Jul 29, 2016 | 10:02 EDT
Needham analyst Mayank Tandon raised his price target for Ellie Mae to $125 from $110 after the company reported another "strong" performance, surpassing Q2 expectations, guiding above consensus for Q3, and raising fiscal year 2016 guidance. The analyst sees "robust" user growth and operating leverage leading to upside surprises and driving further multiple expansion. He reiterates a Buy rating on the shares.
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