NEW YORK (TheStreet) --Rally Software Development Corp. (RALY) reported its fiscal 2016 first quarter earnings results after the market close on Thursday, and the cloud-based solutions provider posted a narrow net loss when compared to the same quarter last year. The company's earnings results were better than analysts had expected.
For the most recent quarter Rally Software posted a non-GAAP net loss of 20 cents per diluted share, compared to a loss of 27 cents per diluted share for the 2015 fiscal first quarter.
Analysts were expecting Rally Software to report an earnings loss of 23 cents per share for the latest quarter.
Revenue grew year-over-year by 26% to $24.5 million, in-line with what analysts were looking for.
Shares of Rally Software are down by 0.05% to $19.41 in after-hours trading on Thursday afternoon.
Separately, TheStreet Ratings team rates RALLY SOFTWARE DEV CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate RALLY SOFTWARE DEV CORP (RALY) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share."
You can view the full analysis from the report here: RALY Ratings Report