Rally Software Development Corp Rating Lowered to Hold at Needham & Company LLC (RALY)
Several other analysts have also recently commented on the stock. 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. Separately, analysts at William Blair downgraded shares of Rally Software Development Corp to a “market perform” rating in a research note on Friday. Finally, 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.40.
Shares of Rally Software Development Corp (NASDAQ:RALY) opened at 12.22 on Friday. 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 $13.49 and its 200-day moving average is $17.91. The company’s market cap is $303.6 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 (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. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.