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Fly News Breaks for February 12, 2019
ELLI
Feb 12, 2019 | 10:31 EDT
Roth Capital analyst Richard Baldry downgraded Ellie Mae to Neutral from Buy and lowered his price target to $99 from $100 after after the company announced an agreement to be acquired by Thoma Bravo for $99 per share in cash. In a research note to investors, Baldry says that while the deal includes a 35 day "go-shop" period, he sees little likelihood of a competing offer given the company's track record for "staccato" execution under its management team.
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