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Fly News Breaks for June 15, 2018
RNG
Jun 15, 2018 | 05:04 EDT
Jefferies analyst John DiFucci raised his price target for RingCentral to $91 after attending the company's investor day. RingCentral now expects to exceed the previous 2020 revenue target of $1B, and implied margin expansion and commentary on the "rule of 40" implies 2020 revenue growth of roughly 30%, DiFucci tells investors in a research note. The analyst sees further penetration potential within the company's existing install base and reiterates a Buy rating on the shares.
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