Rally Software Development Corp (RALY) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS
Rally Software Development Corp (NASDAQ:RALY) released its earnings data on Thursday. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10, AnalystRatingsNetwork reports. The company had revenue of $21.50 million for the quarter, compared to the consensus estimate of $20.57 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Rally Software Development Corp updated its Q3 guidance to ($0.37)-($0.34) EPS and its FY15 guidance to ($1.26)-($1.21) EPS.
Rally Software Development Corp (NASDAQ:RALY) traded up 2.56% on Thursday, hitting $10.00. The stock had a trading volume of 437,637 shares. Rally Software Development Corp has a one year low of $8.40 and a one year high of $33.05. The stock has a 50-day moving average of $9.96 and a 200-day moving average of $13.41. The company’s market cap is $248.6 million.
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, August 6th. They now have a $11.50 price target on the stock. On a related note, 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. Finally, 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, June 6th. They now have a $15.00 price target on the stock, down previously from $30.00. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Rally Software Development Corp presently has an average rating of “Buy” and a consensus target price of $22.58.
Rally Software Development Corp. is a global provider of cloud-based solutions for managing Agile software development.
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