Ellie Mae Expects a Strong Finish to 2017
The state of the housing market has been quite healthy for years, with the recovery from the financial crisis helping to lift home prices back toward precrisis levels in many markets and spurring a new wave of homebuying interest. Ellie Mae (NYSE: ELLI) has sought to help mortgage lenders be as efficient as possible with their operations, and the strong growth in mortgage volume made the company's platforms a must-have among growing home lenders. In 2017, fears have finally arisen that higher rates could stem future growth in mortgage volumes, and that has investors looking more closely at Ellie Mae to see if it can sustain its success.
Coming into Thursday's third-quarter financial report, Ellie Mae investors were prepared for further declines in key financial metrics like they saw last quarter, but they still wanted to see signs of an eventual recovery. Ellie Mae's numbers were better than many had expected, and it seems optimistic about its long-term potential. Let's take a closer look at Ellie Mae to see what its latest news means for its shareholders.
Image source: Ellie Mae.
Source: Fool.com
