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Fly News Breaks for June 15, 2018
RNG
Jun 15, 2018 | 05:06 EDT
JPMorgan analyst Sterling Auty raised his price target for RingCentral to $84 and maintains a Neutral rating on the shares following the company's investor day. The day focused on the themes of a large market that is still early in the penetration, Auty tells investors in a research note. He notes that management updated its 2020 goal stating they now expect to exceed $1B and with profitability that puts it above the rule of 40.
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