Rally Software Development Corp (RALY) Releases FY15 Earnings Guidance
Rally Software Development Corp (NASDAQ:RALY) issued an update on its FY15 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($1.26)-($1.21) for the period, compared to the Thomson Reuters consensus estimate of ($1.33), Analyst Ratings News reports. The company issued revenue guidance of $87-$90 million, compared to the consensus revenue estimate of $87.38 million.Rally Software Development Corp also updated its Q3 guidance to ($0.37)-($0.34) EPS.
A number of research firms have recently commented on RALY. 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Rally Software Development Corp presently has an average rating of Buy and an average price target of $22.58.
Shares of Rally Software Development Corp (NASDAQ:RALY) traded up 2.56% during mid-day trading on Thursday, hitting $10.00. The stock had a trading volume of 437,806 shares. Rally Software Development Corp has a 1-year low of $8.40 and a 1-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.
Rally Software Development Corp (NASDAQ:RALY) last announced its earnings results on Thursday, August 28th. The company reported ($0.30) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.40) by $0.10. The company had revenue of $21.50 million for the quarter, compared to the consensus estimate of $20.57 million. During the same quarter last year, the company posted ($0.04) earnings per share. Rally Software Development Corp’s revenue was up 8.6% compared to the same quarter last year. Analysts expect that Rally Software Development Corp will post $-1.33 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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