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Fly News Breaks for November 30, 2016
RNG
Nov 30, 2016 | 08:45 EDT
After RingCentral's (RNG) stock dropped 5% on news that Amazon (AMZN) could launch a video conference chat product, William Blair analyst Bhavan Suri says he doesn't think the tech giant will launch a cloud-based PBX product ,given the technical requirements for such a product. The analyst notes that RingCentral's stock is trading below the valuation of the SaaS group, and he recommends buying the stock on weakness.
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