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Fly News Breaks for October 26, 2018
ELLI
Oct 26, 2018 | 07:48 EDT
Oppenheimer analyst Brian Schwartz cut his price target for Elli Mae shares to $92 from $125 after the company's Q3 report and outlook missed investors' expectations, admitting that Ellie Mae could not overcome a worsening macro environment. In a research note to investors, Schwartz says he believes shares will remain range-bound in the near-term given macro headwinds and a lingering CFO search.
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