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Fly News Breaks for May 10, 2018
RNG
May 10, 2018 | 05:21 EDT
RingCentral exceeded Q1 estimates on nearly all metrics but cash flow, with Software revenue growth remaining robust at 32%, Jefferies analyst John DiFucci tells investors in a post-earnings research note. He believes the company is well positioned to capture demand as the Unified Communications market continues to shift to as-a-service offerings. The analyst raised his price target for RingCentral shares to $84 from $81 and keeps a Buy rating on the name.
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