Rally Software Development Corp Receives Average Rating of “Buy” from Brokerages (NASDAQ:RALY)
Rally Software Development Corp (NASDAQ:RALY) has earned an average recommendation of “Buy” from the eight ratings firms that are covering the stock, ARN reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $27.25.
A number of analysts have recently weighed in on RALY shares. Analysts at JMP Securities cut their price target on shares of Rally Software Development Corp from $28.00 to $25.00 in a research note on Friday. Separately, 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. Finally, 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.
Shares of Rally Software Development Corp (NASDAQ:RALY) traded down 29.87% on Friday, hitting $8.57. 4,293,036 shares of the company’s stock traded hands. Rally Software Development Corp has a 1-year low of $11.58 and a 1-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 $212.9 million.
Rally Software Development Corp (NASDAQ:RALY) last announced its 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. On average, analysts predict that Rally Software Development Corp will post $-1.57 earnings per share 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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