Fly News Breaks for February 11, 2020
Feb 11, 2020 | 06:03 EDT
Piper Sandler analyst James Fish raised his price target for RingCentral to $256 from $194 saying the company's "record" quarter, added Atos partnership, and guidance sets up for beats-and-raises throughout 2020. RingCentral's Q4 marked its largest beat since Q1 of 2016 and did not include "AAA-partnerships" tailwinds yet, Fish tells investors in a post-earnings research note. He thinks investors should own the stock given that the company's material new partnerships can drive accelerating revenue growth. The analyst keeps an Overweight rating on RingCentral.
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