Rally Software Development Corp (RALY) Releases Q3 Earnings Guidance
Rally Software Development Corp (NASDAQ:RALY) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($0.37)-($0.34) for the period, compared to the Thomson Reuters consensus estimate of ($0.34), Stock Ratings Network reports. The company issued revenue guidance of $22.0-$22.5 million, compared to the consensus revenue estimate of $22.77 million.Rally Software Development Corp also updated its FY15 guidance to ($1.26)-($1.21) EPS.
Rally Software Development Corp (NASDAQ:RALY) traded up 2.56% during mid-day trading on Thursday, hitting $10.00. 437,806 shares of the company’s stock traded hands. Rally Software Development Corp has a 1-year low of $8.40 and a 1-year high of $33.05. The stock’s 50-day moving average is $9.96 and its 200-day moving average is $13.41. The company’s market cap is $248.6 million.
Rally Software Development Corp (NASDAQ:RALY) last issued its quarterly earnings data 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.
RALY has been the subject of a number of recent research reports. 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 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 currently 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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