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Fly News Breaks for March 5, 2020
RNG, ZM
Mar 5, 2020 | 07:52 EDT
Rosenblatt analyst Ryan Koontz raised the firm's price target on Zoom Video (ZM) to $95 from $70 after the company's earnings and revenue beat his expectations and it gave guidance that he said sets up the company "to continue an impressive streak of beats and raises out of the IPO gate." While Zoom noted an increase in freemium video usage in China since January, management said it has yet to see a direct benefit to revenues, Koontz noted. While Zoom is "quickly becoming the dominant force in the video collaboration market with a highly differentiated product," Koontz keeps a Neutral rating on the shares and said he continues to favor RingCentral (RNG) stock here given the company's transformative channel relationship with Avaya (AVYA) and its "fledgling entry" into video collaboration.
News For ZM;RNG From the Last 2 Days
RNG
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.
RNG
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.
RNG
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."
RNG
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%.
RNG
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.
RNG
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).