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Fly News Breaks for May 7, 2019
RNG
May 7, 2019 | 08:52 EDT
SunTrust analyst Terry Tillman raised his price target on RingCentral to $140 and kept his Buy rating after its Q1 earnings beat and better than expected revenue growth of over 30%. The analyst cites strength in the company's "up market business", near 100% growth in its $100K or more enterprise sales, and continued ramp in its channel business. Tillman says RingCentral is one of his "best ideas" with potential to become a "multi-billion dollar business" based on the expected revenue growth of over 30% in a span of a decade.
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