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RNG

RingCentral

$166.21

1.28 (0.78%)

, AVYA

Avaya

$11.83

-0.2 (-1.66%)

08:59
12/09/19
12/09
08:59
12/09/19
08:59

BofA raises RingCentral price target to $198 after positive Avaya checks

BofA/Merrill analyst Nikolay Beliov raised his price target on RingCentral (RNG) shares to $198 from $187 following his recent checks with Avaya (AVYA) distributors and channel partners, stating that "while much work needs to be done on the partnership," feedback has been positive. His key takeaway from his talks with partners is that, on average, they believe around 50% penetration for Avaya Cloud Office is possible over the long-term, Beliov noted. He maintains a Buy rating on RingCentral shares.

RNG

RingCentral

$166.21

1.28 (0.78%)

AVYA

Avaya

$11.83

-0.2 (-1.66%)

  • 09

    Dec

RNG RingCentral
$166.21

1.28 (0.78%)

11/05/19
RHCO
11/05/19
NO CHANGE
Target $192
RHCO
Buy
RingCentral price target raised to $192 from $163 at SunTrust
SunTrust analyst Terry Tillman raised his price target on RingCentral (RNG) to $192 and kept his Buy rating after its "strong" Q3 results with upside in subscription and total revenue along with above-consensus EBIT margins. The analyst notes that the company saw strength "across key verticals" and within its contact center business, which all contributed to strong annualized recurring revenue growth. Tillman further expects RingCentral's partnerships with AT&T (T) and Avaya (AVYA) to be key long-term catalysts.
11/05/19
CHLM
11/05/19
NO CHANGE
Target $175
CHLM
Buy
RingCentral price target raised to $175 from $150 at Craig-Hallum
Craig-Hallum analyst George Sutton raised his price target for RingCentral to $175 from $150 and maintained a Buy rating following better than expected results. In a research note to investors, Sutton highlights the impact of the partnership with Avaya and the newly announced expanded deal with AT&T, where the company will now be the lead UCaaS offering, stating that both of these relationships have substantial, long-term growth potential, along with better unit economics.
11/05/19
OPCO
11/05/19
NO CHANGE
Target $200
OPCO
Outperform
RingCentral price target raised to $200 from $155 at Oppenheimer
Oppenheimer analyst Brian Schwartz raised his price target for RingCentral to $200 from $155 after reporting better than expected Q3 results. In a research note to investors, Schwartz says the "very good" Q3 results lend good support to his thesis that RingCEntral is becoming more strategic to businesses of all sizes by enabling business communication transformation initiatives, driving bigger deals with expansions over time, and increasing operating leverage.
11/05/19
RAJA
11/05/19
NO CHANGE
Target $190
RAJA
Strong Buy
RingCentral price target raised to $190 from $175 at Raymond James
Raymond James analyst Brian Peterson raised his price target for RingCentral to $190 from $175 and reiterated a Strong Buy rating following another "strong" quarter. In a research note to investors, Peterson says he believes investors still underappreciate the long-term potential for RingCentral, which only increases post the expanded strategic relationships with AT&T/Avaya. With Avaya representing a 100M seat opportunity, even modest penetration could significantly scale RingCentral's base of 2M seats, the analyst contends.
AVYA Avaya
$11.83

-0.2 (-1.66%)

11/21/19
GUGG
11/21/19
NO CHANGE
Target $20
GUGG
Buy
Avaya transformation plan appears to be on track, says Guggenheim
Guggenheim analyst Nandan Amladi blamed Avaya's headline miss in Q4 results compared to expectations on a large deal having slipped and thinks the FY20 guidance is "a tad below consensus" due to foreign exchange headwind. However, Amladi contends that business appears to be stabilizing and the transformation program is on track, saying that the quarter included "good first steps." Amladi maintains a Buy rating and $20 price target on Avaya 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.
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.

TODAY'S FREE FLY STORIES

SPOT

Spotify

$148.20

-3.59 (-2.37%)

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CE

Celanese

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-0.53 (-0.45%)

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BYND

Beyond Meat

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-1.16 (-1.05%)

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DBD

Diebold

$11.09

-0.49 (-4.23%)

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IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

, SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

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IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

SLV

iShares Silver Trust

$16.82

0.04 (0.24%)

GLD

SPDR Gold Shares

$146.59

0.29 (0.20%)

FXE

Euro Currency Trust

$105.10

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UBSFY

Ubisoft

$0.00

(0.00%)

17:32
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Periodicals
Ubisoft to restructure editorial team after difficult 2019, VGC reports »

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  • 17

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    Feb

IMVT

Immunovant

$17.04

-0.01 (-0.06%)

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Breaking Syndicate news story on Immunovant »

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TBLT

ToughBuilt

$0.33

-0.0255 (-7.11%)

17:20
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Syndicate
ToughBuilt files to sell common stock, no amount given »

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MYO

Myomo

$0.32

0.0062 (1.98%)

17:18
01/17/20
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Conference/Events
Myomo to host special shareholder meeting »

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  • 21

    Jan

SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

17:14
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Conference/Events
Sierra Oncology to host virtual special shareholder meeting »

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  • 21

    Jan

SRNE

Sorrento Therapeutics

$4.26

-0.15 (-3.40%)

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AKER

Akers Biosciences

$3.45

-0.1 (-2.82%)

17:01
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ECA

Encana

$4.09

-0.18 (-4.22%)

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Encana receives court approval for reorganization »

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  • 29

    Jan

MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

16:38
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Breaking Syndicate news story on Moleculin Biotech »

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

, BT

BT Group

$0.00

(0.00%)

16:37
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Periodicals
BT, Vodafone consider urging PM Johnson not to ban Huawei in U.K., Reuters says »

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

BT

BT Group

$0.00

(0.00%)

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16:30
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Options
Preliminary option volume of 28.7M today »

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NSCO

Nesco Holdings

$5.12

0.025 (0.49%)

16:26
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GPS

Gap

$18.54

-0.075 (-0.40%)

, CMCSA

Comcast

$47.48

0.62 (1.32%)

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GPS

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$18.54

-0.075 (-0.40%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

CMCSK

Comcast

$0.00

(0.00%)

PLAY

Dave & Buster's

$47.35

5.3 (12.60%)

KKR

KKR

$31.20

0.7 (2.30%)

BA

Boeing

$324.11

-7.89 (-2.38%)

JNJ

Johnson & Johnson

$149.07

0.82 (0.55%)

SWK

Stanley Black & Decker

$172.63

2.18 (1.28%)

TWOU

2U

$22.84

1.05 (4.82%)

BE

Bloom Energy

$9.70

0.43 (4.64%)

MGPI

MGP Ingredients

$38.16

-14.74 (-27.86%)

FAST

Fastenal

$36.77

-0.55 (-1.47%)

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  • 26

    Feb

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    Feb

  • 09

    Mar

  • 17

    Mar

APLS

Apellis

$40.43

0.03 (0.07%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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$NYE

NYSE Market Internals

$0.00

(0.00%)

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16:15
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LGC

Legacy Acquisition Corp

$10.33

(0.00%)

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GNUS

Genius Brands

$0.33

-0.015 (-4.41%)

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BBY

Best Buy

$90.21

1.28 (1.44%)

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