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Rally Software Development Corp (NASDAQ:RALY) was downgraded by equities research analysts at Needham & Company LLC to a “hold” rating in a research note issued to investors on Friday.

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.

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