Two mortgage technology companies stand among the top 30 best-performing stocks in 2012, according to the Russell 3000 index.
The Russell 3000 is up 4.97% year to date, yet the average stock in the index is up 3.98% so far in 2012, stock analysis company Seeking Alpha points out, meaning the larger stocks in the market cap weighted index are performing better than the smaller stocks.
Ellie Mae ($22.39 0.15%), ballooned more than 175% year-to-date, while Zillow ($55.86 -1.75%) shot up nearly 80% in the same period. The two mortgage and housing companies are otherwise surrounded by a bevy of health care and other technology firms.
The notice is a good development for Ellie Mae, which reported net income in the first quarter of $3.6 million, reversing its $800,000 loss, the company experienced a year earlier. The growing economic and regulatory demands placed on lenders is putting the Pleasanton, Calif.-based company in a sweet spot.
Click on the list below from Seeking Alpha of the 35 best performing Russell 3000 stocks in 2012, which are all up more than 75%. There are 16 stocks in the index that are up more than 100% year to date. Arena Pharmaceuticals ($8.30 0.241%) leads the pack at 220.86%, followed by Ellie Mae and Vivus ($14.82 0.32%).
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