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Fly News Breaks for May 10, 2018
RNG
May 10, 2018 | 08:51 EDT
SunTrust analyst Terry Tillman raised his price target on RingCentral to $80 and kept his Buy rating after the company's "impressive up-market momentum" seen in the Q1 results. The analyst says the core subscription revenue growth accelerated to 37%, while upmarket selling produced enterprise revenue growth of over 110%. Tillman sees RingCentral continuing to "fire on all cylinders" thanks to its strong product portfolio, significantly expended direct sales force, and channel activity.
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