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Rally Software Development Corp (NASDAQ:RALY) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Thursday. The firm currently has a $12.40 price target on the stock. Zacks‘s price target indicates a potential upside of 8.20% from the company’s current price.

Shares of Rally Software Development Corp (NASDAQ:RALY) traded down 0.61% during mid-day trading on Thursday, hitting $11.39. 125,782 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 has a 50-day moving average of $10.1 and a 200-day moving average of $12.99. The company’s market cap is $285.0 million. Rally Software Development Corp also was the recipient of some unusual options trading on Monday. Investors bought 229 call options on the company. This is an increase of approximately 152% compared to the average daily volume of 91 call options.

Rally Software Development Corp (NASDAQ:RALY) last posted its quarterly earnings results on Thursday, August 28th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the 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 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. Analysts expect that Rally Software Development Corp will post $-1.23 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. 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. 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, June 6th. They now have a $15.00 price target on the stock, down previously from $30.00. 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, June 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Rally Software Development Corp has an average rating of “Buy” and an average price target of $22.73.

Rally Software Development Corp. is a global provider of cloud-based solutions for managing Agile software development.

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