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Research analysts at JMP Securities reduced their target price on shares of Rally Software Development Corp (NASDAQ:RALY) from $28.00 to $25.00 in a report released on Friday. JMP Securities’ price target points to a potential upside of 104.58% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of Rally Software Development Corp from a “buy” rating to a “hold” rating in a research note on Friday. They now have a $15.00 price target on the stock, down previously from $30.00. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $24.80.

Rally Software Development Corp (NASDAQ:RALY) traded down 29.23% on Friday, hitting $8.648. 4,672,565 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 has a 50-day moving average of $13.49 and a 200-day moving average of $17.91. The company’s market cap is $214.9 million.

Rally Software Development Corp (NASDAQ:RALY) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($0.27) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.86) earnings per share. Rally Software Development Corp’s revenue was up 21.2% compared to the same quarter last year. Analysts expect that Rally Software Development Corp will post $-1.57 EPS for the current fiscal year.

Rally Software Development Corp. is a global provider of cloud-based solutions for managing Agile software development.

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