Rally Software Development Corp Receives Consensus Rating of “Buy” from Brokerages (NASDAQ:RALY)
Shares of Rally Software Development Corp (NASDAQ:RALY) have received an average recommendation of “Buy” from the nine ratings firms that are presently covering the stock, StockRatingsNetwork reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $22.58.
A number of analysts have recently weighed in on RALY shares. Analysts at Zacks downgraded shares of Rally Software Development Corp from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $11.50 price target on the stock. Finally, 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, June 6th.
Rally Software Development Corp (NASDAQ:RALY) remained flat at $9.93 during trading on Thursday. 28,780 shares of the company’s stock traded hands. Rally Software Development Corp has a 52 week low of $8.40 and a 52 week high of $33.05. The stock’s 50-day moving average is $10.30 and its 200-day moving average is $14.62. The company’s market cap is $246.9 million.
Rally Software Development Corp (NASDAQ:RALY) last released its 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 $-1.33 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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