Rally Software Development Corp Given Consensus Rating of “Buy” by Analysts (NASDAQ:RALY)
Rally Software Development Corp (NASDAQ:RALY) has received an average rating of “Buy” from the ten analysts that are currently covering the stock, StockRatingsNetwork.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $33.00.
Rally Software Development Corp (NASDAQ:RALY) opened at 22.845 on Thursday. Rally Software Development Corp has a 52-week low of $15.46 and a 52-week high of $33.05. The stock’s 50-day moving average is $20.89 and its 200-day moving average is $25.06. The company’s market cap is $557.7 million.
Rally Software Development Corp (NASDAQ:RALY) last issued its quarterly earnings data on Thursday, December 5th. The company reported ($0.17) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.22) by $0.05. The company had revenue of $18.94 million for the quarter, compared to the consensus estimate of $18.46 million. During the same quarter in the prior year, the company posted ($0.46) earnings per share. The company’s quarterly revenue was up 49.5% on a year-over-year basis. On average, analysts predict that Rally Software Development Corp will post $-0.84 earnings per share for the current fiscal year.
RALY has been the subject of a number of recent research reports. Analysts at Roth Capital initiated coverage on shares of Rally Software Development Corp in a research note on Wednesday. They set a “buy” rating and a $33.00 price target on the stock. Separately, analysts at Thomson Reuters/Verus initiated coverage on shares of Rally Software Development Corp in a research note on Monday, February 3rd. They set a “sell” rating on the stock. Finally, analysts at Stephens initiated coverage on shares of Rally Software Development Corp in a research note on Tuesday, January 7th. They set an “overweight” rating on the stock.
Rally Software Development Corp. is a global provider of cloud-based solutions for managing Agile software development.
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