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RNG

RingCentral

$81.45

1.85 (2.32%)

04:56
08/07/18
08/07
04:56
08/07/18
04:56

RingCentral target raised to $97 on 'strong' quarter at Jefferies

Jefferies analyst John DiFucci raised his price target for RingCentral to $97 from $95 saying the company posted "another strong quarter" in Q2. Subscription revenue growth of 32% kept the accelerated pace of the prior two quarters, DiFucci tells investors in a post-earnings research note. He believes RingCentral is seeing continued channel momentum and keeps a Buy rating on the shares.

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RNG RingCentral
$81.45

1.85 (2.32%)

06/15/18
JPMS
06/15/18
NO CHANGE
Target $84
JPMS
Neutral
RingCentral price target raised to $84 from $76 at JPMorgan
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.
06/19/18
OPCO
06/19/18
NO CHANGE
Target $92
OPCO
Outperform
RingCentral price target raised to $92 from $79 at Oppenheimer
Oppenheimer analyst Brian Schwartz raised his price target for RingCentral to $92 from $79 after attending the company's investors day. The analyst left the investors meeting feeling more comfortable in his RingCentral estimates and his large TAM and open-ended growth with improving operating profitability thesis. Schwartz reiterates an Outperform rating on the shares.
07/11/18
STFL
07/11/18
INITIATION
Target $100
STFL
Buy
RingCentral initiated with a Buy at Stifel
Stifel analyst Matthew Van Vliet initiated RingCentral with a Buy rating and a price target of $100, saying the company is positioned as a leading provider of cloud-native communications services for businesses of all sizes. Van Vliet notes that its market leadership has been increasing over the past few years, thanks to its broad portfolio approach "delivering essential communications channels" and enterprise-grade scalability. Van Vliet adds that the company's push into Enterprise market is accelerating its bookings growth and margin expansion.
07/19/18
JEFF
07/19/18
NO CHANGE
Target $43
JEFF
Buy
Jefferies expects rally in Software stocks to continue
Jefferies analyst John DiFucci thinks June quarter results in the Software space "could be relatively strong." The analyst estimates that the currency translation impact for the average software company should be a weaker tailwind than when guidance was given, resulting in a headwind of approximately 180 basis points. He expects the "meaningful, warranted appreciation" in some stocks to continue and raised his price targets accordingly. DiFucci upped his price target for Apptio (APTI) to $43 from $36, for Benefitfocus (BNFT) to $43 from $35, for Check Point (CHKP) to $127 from $117, for Tableau (DATA) to $100 from $87, for Nice Systems (NICE) to $127 from $119, for RingCentral (RNG) to $95 from $91, and for Varonis (VRNS) to $92 from $77. All stocks except Hold-rated Tableau are Buy rated by the analyst.

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