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Fly News Breaks for July 28, 2017
ELLI
Jul 28, 2017 | 08:53 EDT
Oppenheimer analyst Brian Schwartz expects consensus estimates will be "cut hard" after Ellie Mae's Q2 miss and guide down, but he likes the risk/reward opportunity with the worst of the cycle headwinds now behind it. He lowered his price target on the stock to $101 from $125 but maintains an Outperform rating on Ellie Mae shares, which are down about 25% in pre-market trading to $82.80.
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