Rally Software Development Corp (RALY) Updates Q2 Earnings Guidance
Rally Software Development Corp (NASDAQ:RALY) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.42)-(0.39) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.42), Analyst Ratings Network reports. The company issued revenue guidance of $20.2-20.8 million, compared to the consensus revenue estimate of $22.31 million.Rally Software Development Corp also updated its FY15 guidance to ($1.36)-(1.31) EPS.
Shares of Rally Software Development Corp (NASDAQ:RALY) traded down 1.13% during mid-day trading on Thursday, hitting $12.22. 486,625 shares of the company’s stock traded hands. Rally Software Development Corp has a 52 week low of $11.58 and a 52 week high of $33.05. The stock has a 50-day moving average of $13.52 and a 200-day moving average of $17.95. The company’s market cap is $303.6 million.
Rally Software Development Corp (NASDAQ:RALY) last issued its quarterly earnings data on Thursday, June 5th. The company reported ($0.27) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.50) by $0.23. The company had revenue of $19.40 million for the quarter, compared to the consensus estimate of $19.59 million. During the same quarter in the prior year, the company posted ($0.86) earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. On average, analysts predict that Rally Software Development Corp will post $-1.57 earnings per share for the current fiscal year.
RALY has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a buy rating, Rally Software Development Corp presently has a consensus rating of Buy and an average price target of $30.67.
Rally Software Development Corp. is a global provider of cloud-based solutions for managing Agile software development.