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Fly News Breaks for February 11, 2020
Feb 11, 2020 | 07:53 EDT
Needham analyst Richard Valera raised his price on RingCentral (RNG) to $240 and kept his Buy rating after its "strong" Q4 results, with a 3rd consecutive quarter of revenue beat driven by its "go-to-market engine" that is "firing on all cylinders". The analyst notes that the management's initial FY20 guidance was "nicely above consensus", but he sees even more upside from RingCentral's existing catalysts that include enterprise deals, channel, and contact center, with increasing profitability further supported by the incremental contribution from AT&T (T), Avaya (AVYA) and the newly signed Atos partnerships.
News For RNG;T;AVYA From the Last 2 Days
Aug 4, 2021 | 17:31 EDT
WarnerMedia News and Sports chairman Jeff Zucker intends to stay at the AT&T (T) unit at least until the business closes its merger with Discovery (DISCA), assuming the deal gains regulatory clearance, CNBC's Alex Sherman reports, citing people familiar with the matter. Zucker had previously said he intended to leave at the end of 2021, the author notes. Reference Link
Aug 4, 2021 | 06:44 EDT
Deutsche Bank analyst Matthew Niknam lowered the firm's price target on RingCentral to $400 from $450 and keeps a Buy rating on the shares. With "increasingly cautious" investor sentiment heading into the Q2 results, RingCentral delivered an "impressive beat and raise" that should serve as a positive catalyst for shares, Niknam tells investors in a research note.
Aug 4, 2021 | 06:12 EDT
UBS analyst Taylor McGinnis raised the firm's price target on RingCentral to $300 from $275 but keeps a Neutral rating on the shares. The company's Q2 results were a "step in the right direction" as RingCentral Office ARR accelerated slightly, while the Q3 subscription revenue guidance was the highest seen in years, the analyst tells investors in a research note. McGinnis adds however that it will likely take a couple quarters of sustained high-30s to low-40s RCO ARR growth to reduce the discount imbedded in RingCentral shares.
Aug 4, 2021 | 06:04 EDT
Piper Sandler analyst James Fish lowered the firm's price target on RingCentral to $342 from $401 and keeps an Overweight rating on the shares. The company reported another strong quarter in which lead metrics all accelerated, Fish tells investors in a research note. The analyst reduced the target on "valuation compression" but says RingCentral remains a top pick given its "secular positioning."
Aug 3, 2021 | 18:35 EDT
WarnerMedia (T) said that, starting Tuesday, HBO Max will offer potential new subscribers in the U.S. the opportunity to watch select episodes of some of the platform's most popular programming in-app before they sign up. The in-app offering is an extension of the long-standing sampling opportunities available via and more recently, through Snapchat's (SNAP) HBO Max Snap Mini, which allows Snapchatters to watch free episodes of HBO Max programming virtually alongside their friends within the Snapchat app. . The free experience will initially include 13 episodes of HBO and Max Originals, with new titles being rotated in and out of the collection periodically. The free offering will roll out today across all current HBO Max device partners. Pilot episodes available in the collection at launch include the first episodes of "Batwoman," "Euphoria," "Game of Thrones," "Harley Quinn," "Lovecraft Country," "Love Life," "Perry Mason," "Raised By Wolves," "The Flight Attendant," "Titans," "Veneno," and "Warrior." Reference Link
Aug 3, 2021 | 16:40 EDT
Consensus $1.26. Raises FY21 revenue view to $1.54B-$1.55B from $1.50B-$1.51B, consensus $1.51B. The company is also raising subscriptions revenue range to $1.424 to $1.430 billion, representing annual growth of 31% to 32%. This is up from its prior range of $1.388 to $1.396 billion and annual growth of 28% to 29%.
Aug 3, 2021 | 16:38 EDT
The company's subscriptions revenue increased 37% year over year to $351M and Total Annualized Exit Monthly Recurring Subscriptions (ARR) increased 37% year over year to $1.5B.
Aug 3, 2021 | 14:18 EDT
Notable companies reporting after the market close, with earnings consensus, include Amgen (AMGN), consensus $4.06... Activision Blizzard (ATVI), consensus 75c... Match Group (MTCH), consensus 51c... Prudential Financial (PRU), consensus $3.02... Microchip Technology (MCHP), consensus $1.91... RingCentral (RNG), consensus 28c... Paycom (PAYC), consensus 84c... Lyft (LYFT), consensus (24c)... Caesars (CZR), consensus (26c)... Live Nation (LYV), consensus ($1.20)... Hyatt Hotels (H), consensus (93c)... Coursera (COUR), consensus (11c)... Infinera (INFN), consensus (5c).
Aug 3, 2021 | 11:04 EDT
LG Electronics USA and WarnerMedia announced that the HBO Max app is now available on LG Smart TVs in the U.S. "The arrival of HBO Max on LG Smart TVs makes it easier than ever for subscribers to access the popular streaming platform's full portfolio of premium content in one integrated experience and comes on the heels of the launch of HBO Max on LG Smart TVs across select territories in Latin America and the Caribbean in June," WarnerMedia, a part of AT&T, announced.