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RNG

RingCentral

$158.25

-3.69 (-2.28%)

12:55
11/04/19
11/04
12:55
11/04/19
12:55

Ringcentral put volume heavy and directionally bearish

Bearish flow noted in Ringcentral with 2,502 puts trading, or 1.8x expected. Most active are Nov-19 150 puts and Dec-19 145 puts, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 2.30, while ATM IV is up over 5 points on the day. Earnings are expected on November 4th.

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  • 09

    Dec

RNG RingCentral
$158.25

-3.69 (-2.28%)

10/07/19
JPMS
10/07/19
UPGRADE
Target $225
JPMS
Overweight
JPMorgan upgrades RingCentral to Overweight on Avaya partnership
JPMorgan analyst Sterling Auty upgraded RingCentral (RNG) to Overweight from Neutral with a price target of $225, up from $143. The Avaya (AVYA) transaction announced last week opens up an opportunity to "dramatically accelerate" RingCentral's shift to cloud-based unified communications as a service solutions, Auty tells investors in a research note. The analyst believes the deal structure provides attractive economics to both sides, as well as protections for RingCentral. Penetrating as little as 3%-5% of Avaya's 100M-plus customer base is worth an incremental $82 per share, Auty estimates.
10/07/19
NEED
10/07/19
NO CHANGE
Target $65
NEED
Buy
Five9 may be 'quiet winner' of Avaya-Ring Central deal, says Needham
Needham analyst Scott Berg notes that Five9 (FIVN) may be the "quiet winner" from the Cloud solution partnership announced last week between Avaya (AVYA) and Ring Central (RNG), keeping his Buy rating and $65 price target on on the stock. The analyst notes Avaya has about a third of the cloud contact center, or CC, market, and contends that any of its customers' move to an "ACO solution" customer's CC infrastructure. Berg adds that while the pace of the potential customer conversion to ACO is unknown, the migration will pull forward the CC infrastructure decisions, which should be favorable for Five9 because of its "industry-leading CC platform and win rates."
10/22/19
RSBL
10/22/19
NO CHANGE
RSBL
Zoom Video relationship with RingCentral starting to 'fracture,' says Rosenblatt
Rosenblatt analyst Ryan Koontz said his check indicate that RingCentral's (RNG) strategic relationship with Zoom Video (ZM) "may be beginning to fracture earlier than anticipated" as the former begins investing heavily in its new strategic alliance with Avaya (AVYA). He also believes that his suspicions that RingCentral is developing its own video meeting product could be announced shortly and he thinks RingCentral may bring to market an initially inferior video product in an effort to halt the proliferation of Zoom video in its customer base if the current situation continues to escalate. Koontz keeps a Neutral rating on Zoom Video shares.
10/28/19
JEFF
10/28/19
NO CHANGE
Target $210
JEFF
Buy
Jefferies boosts RingCentral target to $210, adds to Franchise Picks List
Jefferies analyst Samad Samana raised his price target for RingCentral (RNG) to $210 from $152 and added the shares to his firm's Franchise Picks List. The stock closed Friday up $5.65 to $160.36. Despite the 26% rally since the Avaya (AVYA) partnership announcement, the company's potential remains underappreciated, Samana tells investors in a research note. Through a combination of organic growth and contribution from Avaya, RingCentral's path to greater than $2B in revenue is "much clearer," says the analyst. He expects the company's subscription revenue to reach $2.4B in 2023, or more than triple his 2019 estimate. Samana keeps a Buy rating on RingCentral shares.

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$6.69

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