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Fly News Breaks for April 12, 2018
ELLI
Apr 12, 2018 | 07:31 EDT
As previously reported, Wedbush analyst Jason Weaver downgraded Ellie Mae to Underperform from Neutral based upon what is shaping up to be a disappointing year for mortgage originations in 2018, as well as some amount of skepticism around the company's ability to achieve its long-term growth and profitability targets in what is increasingly a maturing market for mortgage loan origination systems and a challenging market for their customers. The analyst also lowered his price target on the shares to $69 from $90.
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