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Fly News Breaks for October 29, 2018
ELLI
Oct 29, 2018 | 07:21 EDT
Wedbush analyst Henry Coffey lowered his price target for Ellie Mae to $53 from $70 to better account for likely pressure on active seat count and revenue per loan. The analyst thinks the company goes into a more defensive mode during the course of the next two years and that it should be able to offset much of the expected revenue cut with some gains in profitability. He reiterates an Underperform rating on the shares.
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