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Fly News Breaks for June 18, 2018
ELLI
Jun 18, 2018 | 08:23 EDT
RBC Capital analyst Ross MacMillan raised his price target on Ellie Mae to $125 and kept his Outperform rating citing his latest management discussions around the "industry environment, market share opportunity, and the monetization potential of new modules." The analyst notes that the management expects improved profitability and a seasonally stronger performance in Q2-Q3. In terms of the risk of industry consolidation, MacMillan says a customers would still owe a "contracted minimum for the contract duration in the event of a cancellation."
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