Why Ellie Mae (ELLI) Is Up Today

NEW YORK (TheStreet) -- Ellie Mae (ELLI) was gaining 18.3% to $29.38 Friday after reporting record revenue for the full year 2013.

The company reported total revenue increased 26% to $128.5 million for 2013, up from $101.8 million for 2012.

For the fourth quarter Ellie Mae reported revenue of $30.35 million, beating analyst estimates of $29.84 million for the quarter. The company posted earnings of 18 cents a share for the quarter. Analysts surveyed by Thomson Reuters expected earnings of 18 cents a share.

The software company forecasts revenue of between $150 million and $153.5 million for 2014. Analysts expect revenue of $151.5 million for the year.

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TheStreet Ratings team rates ELLIE MAE INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate ELLIE MAE INC (ELLI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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