Rally Software Development Corp Lowered to Hold at Deutsche Bank (RALY)
Rally Software Development Corp (NASDAQ:RALY) was downgraded by Deutsche Bank from a “buy” rating to a “hold” rating in a research note issued on Friday, TheFlyOnTheWall.com reports.
Shares of Rally Software Development Corp (NASDAQ:RALY) opened at 12.22 on Friday. 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 $13.49 and a 200-day moving average of $17.91. 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) earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($0.86) earnings per share. The company’s revenue for the quarter 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.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC downgraded shares of Rally Software Development Corp from a “buy” rating to a “hold” rating in a research note on Friday. Separately, analysts at Roth Capital cut their price target on shares of Rally Software Development Corp from $33.00 to $23.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at William Blair downgraded shares of Rally Software Development Corp from an “outperform” rating to a “market perform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $28.00.
Rally Software Development Corp. is a global provider of cloud-based solutions for managing Agile software development.
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