Rally Software: 2QF15 Results Should Begin To Turn Investor Sentiment, Says Roth Capital

In a research note issued today, Roth Capital analyst Richard Baldry reiterated coverage with a Buy rating on shares of Rally Software (RALY) with a $23 price target, following the company’s earnings results showing revenues of $21.5M versus Baldry’s $20.6M forecast.

The analyst noted, “Rally’s 2QF15 results were impressive, in our view, beating at the top and bottom lines and highlighted by solid upside to core recurring revenues which reported a record sequential increase. F15 revenue guidance was reiterated despite 2Q’s upside, and F15 earnings guidance narrowed expected losses only inline with 2QF15’s upside. Given its sharp valuation pullback over the past year, we believe this result should begin to turn investor sentiment.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Richard Baldry has a total average return of 9.7% and a 64.3% success rate. Baldry has a -69.1% average return when recommending RALY, and is ranked #1146 out of 3266 analysts.

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