Rally Software Development Corp (RALY) Announces Quarterly Results
Rally Software Development Corp (NASDAQ:RALY) issued its quarterly earnings data on Thursday. The company reported ($0.27) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.50) by $0.23, ARN reports. The company had revenue of $19.40 million for the quarter, compared to the consensus estimate of $19.59 million.
Shares of Rally Software Development Corp (NASDAQ:RALY) traded down 1.13% during mid-day trading on Thursday, hitting $12.22. 444,554 shares of the company’s stock traded hands. Rally Software Development Corp has a one year low of $11.58 and a one year high of $33.05. The stock’s 50-day moving average is $13.52 and its 200-day moving average is $17.95. The company’s market cap is $303.6 million.
A number of research firms have recently commented on RALY. Analysts at Piper Jaffray upgraded shares of Rally Software Development Corp from a “neutral” rating to an “overweight” rating in a research note on Thursday, April 17th. They now have a $23.00 price target on the stock. On a related note, analysts at JMP Securities cut their price target on shares of Rally Software Development Corp from $32.00 to $28.00 in a research note on Monday, April 7th. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Rally Software Development Corp in a research note on Friday, March 21st. They now have a $30.00 price target on the stock. Six analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $30.67.
Rally Software Development Corp. is a global provider of cloud-based solutions for managing Agile software development.
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