Ellie Mae (NYSE:ELLI)

CAPS Rating: 5 out of 5

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Player Avatar TMFPennyWise (< 20) Submitted: 1/26/2013 12:12:08 PM : Outperform Start Price: $22.16 ELLI Score: -0.99

I just listened to the Needham investor presentation (January 17, 2013) and the ELLI CFO said that they had a pilot program going with CITI to buy ELLI's on demand automated mortgage solutions. I'm trying to refinance a property with CITI and it's been impossible to deal with their (clueless) mortgage people--if ELLI sells to CITI, which desperately needs ELLI services IMHO, I think it will be a huge new revenue source. Likewise according to the CFO ELLI recently landed another big bank account and that will bolster 2013 revenues/earnings as well. And surely there are other big banks shopping for electronic mortgage services to streamline for the projected housing boom. Right now ELLI is on a dip, likely because of one recent negative analyst report, but I think it will rebound quickly and continue to grow in the quarters ahead.

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