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Fly News Breaks for February 5, 2016
RNG
Feb 5, 2016 | 07:15 EDT
Oppenheimer says that RingCentral reported strong Q4 results, but its 2016 revenue guidance came in below expectations due to a change in its business model. Specifically, Westcon will distribute RingCentral's land phones. The firm views this change positively, saying it will boost RingCentral's margins. The firm remains upbeat on the company's booking trends and technology, and keeps an Outperform rating on the shares.
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