Fly News Breaks for February 11, 2020
Feb 11, 2020 | 05:09 EDT
Jefferies analyst Samad Samana raised his price target for RingCentral to $245 from $210 saying the company's total and subscription revenue beat consensus and continued to accelerate in Q4. RingCentral is entering 2020 "with a full head of steam on the heels of strong execution, healthy demand and ramping partnerships," Samana tells investors in a research note. He reiterates a Buy rating on the shares.
News For RNG From the Last 2 Days
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 | 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).